I believe Hawaii will continue regulating STR and it will be harder to make the numbers work. 

I am unconvinced that the new administration will meaningfully address the deficit and US credit will continue to erode gradually, contributing to rising rates.

I recently toured a property in Phoenix where solar power and water-saving features cut operational costs by nearly 20%.6.

I think will find that out-of-state will be much more operationally challenged than local.

However now that it's been a couple years and Avantstay is running these like a well-oiled machine, I probably will continue with them as a PM company when my master lease is up. 

It's easier to scale with multifamily properties due to income potential and operations.

I'm finding that this strategy is helping people, building repour with people, and continuing to keep business moving forward while some say it's hard and sit on the sideline to wait until there is mass movement.Appreciate your time and reply and good to hear that you're experiencing some similar action a couple hours' drive away. 

We travel for work (healthcare) and chronically live out of MTRs, so it will be our first time operating a shorter term, but won’t be an entirely foreign situation to us.

For this, the learning is done by continually talking with people in the market you are looking and similar deals.  

People can't afford to buy so they continue renting (and stay longer!).