However, if you can manage to find the very few who either don't want to be an investment owner or would prefer to upgrade their capital into something more profitable for their stage of life, launch on it.

You have to be willing to play the long game and overpay with the intent that eventually after renovations you will take maximum market rent and turn a profit.

A couple of minor spats between rivals in the same patch but nothing too exciting.

Some markets need a higher-end build out to be profitable others going basic on finishes is most effective. 

Profit margins?

If you price is under $1.7m, what rehab budget do you want to stay under, and what profit are you looking for?

Because any great vacation destination will provide you with opportunities to create a profitable STR scenario. 

Focus on creating profitable deals. 

If you're curious about the booming Philly market or need some advice, hit me up for a free consultation.Looking forward to connecting with you all and making some profitable moves together!

Small town USA is totally overlooked and makes for a search area with few competitors, so profits are higher.