In my opinion the new myan train will drive up tourism there.

They will know your local markets, including communities and building departments to avoid, or embrace, and possibly the same for contractors or other service providers.A local lender will have an idea of local comps and might even know your specific property.

Hawaii has basically shut the door to tourism so business isn’t good, but it creates a good buying opportunity as many people want to walk away from their investments.

We’ve seen rates 90+% over the past four years as tourism to the islands has picked up.

For a high tourism area, Napa Valley is highly regulated.  

@Zeke Pirtle imo the most important thing is choosing a mature vacation market with plenty of demand that has favorable ordinances already in place (ie find a place where tourism is the lifeblood of the local economy), this is far more important than whether you invest locally or at a distance.

Overall, while hotels have been hurting compared to normal levels, tourism is still pretty strong here - we are just seeing more domestic instead of foreign tourists.

@William Brock A large part of STR markets are locations that have an economy based on tourism.

It is an untapped market that relies heavily on tourism so their STR rules are minimal.

Seems to me you are throwing away the advantage of a long term tenancy and embracing the problems associated with it.