One more caveat, however:  Only do this in areas were STRs are prevalent and allowed by ordinance. 

@Tracey Geary To expand on your last point, you touched on something about real estate that isn’t always prevalent elsewhere - what you learn on the deals you don’t do almost always inform the next deals you analyze.

If there are foundation issues pier and beam foundations are much more desirable to slab.Foundation issues are more prevalent on the east side of town which is also a very fast-growing part of town.

@Mike Dawson if you're looking to purchase in an area where condotels are prevalent, see if any of the smaller local lenders offer an in-house portfolio loan option. 

The bank is going to appraise the property based on the prevalent cap rate.

I only have 2-6 unit properties, but in the dense urban environments I invest in those properties are prevalent.

I was wanting you guys input/opinion on why you think they are so prevalent in today's world/market?

Instead ask for the websites and then look for the key signs of at least decent SEO.Does the first 100 words use the prevalent keywordsIs there just 1 H1 title tag?

In my market corporate renters aren't as prevalent and you'd need to be in a specific area for both short term and corporate rentals to work. 

This is much more prevalent in northern states as I have rarely come across this in Texas