In fact a nice $600k place in Gatlinburg or Destin a couple years ago is probably closer to $2 million now.

"Niche neighborhoods" or "weekend getaway destinations" of major metros can produce high cap rate STRs.

I have two big rentals in party destinations and making very clear upfront what is allowed and not is the only way to really screen the clients. 

If you want to own or manage STRs, look to the nearby vacation destinations like Big Bear and Joshua Tree.

They also know that the area they live is a big vacation destination and that the $$$ coming in is good for the town.

[Simplified:  if you are the sole owner of the properties and the sole owner of the destination holding company, you can transfer the properties under section 85].

I've been going to Destin for the last 20 years and know that area pretty well but am more interested in buying a property around the seaside area as a vacation home for myself but also for Airbnb. 

You guys are destined for greatness.

However, we were averaging 80%-90% occupancy prior to Covid, regardless of season, and the Poconos has been a 4 season destination for decades.  

It's a great place to enjoy water sports, such as kayaking and paddleboarding.Miramar Beach: This beach is located just east of Destin and is known for its wide expanse of sand and clear blue water.