That said, it's a very saturated area with a lot of competition, but we've always been booked solid.

Saturation is only an issue if you don't stand out, and it's easy to stand out in Orlando (theme rooms!!!)

And regarding the mushrooming of courses...considering the fact that you're also responding to this thread on the EXACT SAME DAY I AM two years later - I wonder if this is going to be the next over-saturated market lol. 

More and more investors are on the scene, and all of them, again with these stupid and dumb marketing strategies like cold calling DMM etc. etc.So with all this saturation, the marketing efficiency goes down. 

I currently live in a pretty over-saturated market, and my partner lives in another state than me.

I guess that’s a good thing for us in terms of saturation/competition but I do know of many folks that had to convert to 30 day plus rentals because they didn’t get their permit in time.

While there is still plenty of money that can be made through airBNB; this will now require competing with others in saturated market.

Condotels usually come with a property management company already in place and will charge ~40% of gross rent to manage it, plus there is a saturation of these all up and down the beach. 

Denver is saturated with wholesalers, etc with huge marketing budgets.

Twin Cities is a red hot market, kudos for the agents but I am not an agent I am on the investing side so I buy low, sell high, grow equity, seller's markets are not conducive to good acquisitions once saturated for deal origination as Twin Cities is.