In fact, Flagstaff is affectionately called “poverty with a view” because it’s expensive and super pretty but the main industries are basically just NAU and tourism.

A general rule of thumb though (not a hard rule) is that if a market has a prolonged history of vacation rentals such as towns whose commerce is very dependent on tourism like beach or mountain towns, then there is a good chance than those towns have established their airBNB regulations decades ago and are likely stable.

@Kegan SchollFrom my experience, if you're a 22-year-old house hacker, Texas and similar markets can be great for room rentals thanks to population growth, strong demand, and tourism.

The good places to start investing at the moment are places within a 10 min drive from main urban centers, and which have different types of residents (not just tourism, not just workers, etc).Feel free to reach out in case we may be of assistance.

If short-term rentals are on your radar, markets with strong tourism and year-round demand are key.

Quote from @JD Martin: Quote from @Jay Hinrichs: Quote from @Matthew Drouin: Small wine town is all I needed to hear.Seasonal tourism is usually not a great industry in which to build a sustainable business.There are probably higher and better uses of your capital near high velocity metro areas.We have small wine towns near our city in the finger lakes region of western NY.  

Unlike Vegas, where tourism can be hit-or-miss depending on conventions or events, Florida’s Panhandle delivers steady demand every season.

It’s a vacation destination with steady year-round tourism, and there are opportunities to find properties that cash flow well, especially centrally located condos or single-family homes in the $250k–$350k range.That said, the "right" market depends on your investment goals.

Check Mexico's tourism statistics.

I’ve helped several clients in similar situations find their first vacation properties here in Florida, and the Panhandle is fantastic for beginners because of its year-round tourism and robust support networks (property managers, cleaning services, etc.).