There will always be demand in the market (it's not like some covid markets that could disappear as vacation destinations almost entirely over the next decade), and the regulation risk is as near to zero as you can get in this industry so long as you buy in the approved tourist zones (again, compared to some smaller/less mature markets where they could outlaw STRs tomorrow).For short period cash flow there are better options. 

A steady annual growth rate, diverse industries, and affordable living attract residents.

Where these numbers are found, there is a very high rate of rent actually being paid.We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, and mortgage industry National footprints.

Again, other might feel differently here.b) Skin in the game: as a conservative investor, I understand that the dirty secret of industries that the waterfall compensation is in the line with me and incentivizes sponsors to take more risk.

@Liam AlvarezI’ll be a contrarian here.After 46 years in the industry, both as a SFR broker & investor and now as a MF operator with over 1000 units as a general partner…..The best market to invest in is the market YOU KNOW BEST.

I've been around the tech industry since the mid-1990's so when Bitcoin first started to gain a little traction I had a lot of tech friends who would try to evangelize to me about it.  

Their main sales pitch is that they will teach you how to make more money by charging your investors double the industry average acquisition fee.  

My goal is to scale up over the next few years and add another 10-20 doors.I ran across someone that is saying they are building quadplexes in the same town in Texas as my current rentals there, so I have some support system there.High level this is the idea on the deal:4 units constructed as 2 duplexes on one parcel.1250sqf 3/2/1 units$650k sale price, CME is $820k according to builder, will have a independent CME done if/as I move forward.Rent per unit is $1750 based on the other quad in the developmentBest guess at this point is about $16k/year cash flow at a 9.5% cap rate.Builder is a sister company of a established company in a related industry that has done "some" builds before but not a lot.

How do I find mentors and peers who can teach me about the industry? 

Some agents are also wholesalers and/or get leads from wholesalers.That said, it is an industry that has some grey areas to it from a legal perspective.