You would be better off putting money into a fund that performs at 6% to 8% somewhere with appreciation. 

Originally posted by @Matt Millard:Seen them & Net Worth around Dallas for a long time.

So over the long term, I think it certainly could affect home and commercial prices.

Hello,We have "trapped equity" in a long term rental condo and are considering selling it and doing a 1031.

We love investing into properties that we can hold long term and we have been fortunate enough to have great tenants through our intense vetting process that stay with us for long periods of time.

We already have a few mid-term booking requests so just as I thought, my vision of what's possible is coming to reality. 

Then there’s city regulations—some places heavily restrict short-term rentals, so you’ve got to check the rules.If you find the right spot and automate stuff (guest communication, cleaning, etc.), it can be profitable.

That said having the right tenant goes a long way.

Or am I totally off, and the seller has to perform the conversion before I can make an offer?

Everything comes with a risk but I want to hear everyone's opinions for both states in the long run, thanks in advance It really depends on your style and goals and type of investing.I invest in multiple states and there can be some substantial differences.First decide if you want to do Flips, Long Term Rentals, Short Term Rentals, Shared Housing, Multi Family, Land, Tax Deeds, REITs, Syndication, Commercial and then decide.