If we could just get more stability, even if that meant rates staying where they are today, I believe would be better than the dramatic fluctuations we've seen over the last 7 months. 

The peak of STR activity is the festival season, as you correctly noted, and the demand for STRs does a slow decline after that, as the transient population returns to their main residences around the country for summer, and as temperatures start to go up dramatically here in the desert.

Do not accept payment plans because they almost never pay and it will dramatically increase your workload and stress.

Market changes dramatically. 

Door knocking, and having honest conversations with sellers can dramatically help the deal flow smoothly.The sellers were a local Real Estate firm (their own office) and are well connected to our community.In the spirit of 'improving our community' I then partnered with our local bank, and worked with a commercial banker that also knew the sellers, and the building very well.

Last year's bills peaked at around $450 so I'm hoping for a dramatic drop.

I would not proceed with the purchase because the after rehab value may be affected by the rent charged for the lot, this is a variable you do not control; +$75 - $100 in lot rent would have a dramatic impact on your value and the amount of money that the bank would give you when you to try to refinance.  

I do this because I am trying to keep a decent relationship with the tenant to make things easier/less dramatic/emotional.

I'd say once you get past 201/Stagecoach you're really getting outside the city and your tenant pool shrinks dramatically.

However, the landscape has dramatically shifted in 2023, with these five companies now single-handedly driving 78% of the market's growth.