Rental is slower also in cities with serious shortage of housing. 

Basically there is a HUGE shortage of affordable housing, and the powers that be feel STR's are part of the issue.  

That has not only driven up the value of the properties, but has caused a shortage of long term rentals, raising the rents.

My  wife's cousins (both work in construction trades) report that the labor shortage is pretty dire. 

It’s a very tough market here for flips due to the supply shortage, buy and holds do well due to a strong rental market.Chris CarriganTeam Carrigan at EXP Realty

That being said, there is a shortage of housing and always people looking to rent.Ultimately, it depends on how much you want to spend.

Plus seller is super motivate which is working in our favor.We have a rental shortage in our area...so if for any reason the STR market takes a turn which I doubt we can always LTR as a back up.

There is a shortage of inventory (especially for new construction).

There is no shortage of buyers out there.

I would suggest you stay out of Burlington due to the constant push to regulate STR’s due to the housing shortage.