Help me poke holes in my data2) Is it too risky to buy a STR in our current climate? 

I live in Washington State but am looking to move to a warmer climate.

Not a great  current climate!  

The political climate took a huge shift this year with many small landlords exiting the market leaving fewer rentals (look up Senate Bill 5600). 

That being said, BZN has an economy like I"ve never seen anywhere else, which seems to be able to weather almost anything, with a massive aquifer below it that might even, after climate change, be the "last ONLY place". 

Cold climate maybe?

However, I keep seeing stuff about mini splits not being good for colder climates like PA.. what do you think about that?

Milwaukee has not seen that much appreciation in the last years, on average only 8-10%, which is low compared to the rest of the country, but we are getting more and more attention from people running away from climate issues and that will continue to drive prices.

It's more art than science, but here are some considerations:Landlording Climate - I'm a buy-and-holder, so I'm looking for markets that are landlord-friendly.

No one has a crystal ball, but the climate, tech, and tourism industry boom would lead to continued price growth over long period is what I suspect.