Just make sure you are saving towards those slow months during the peak months, buy a deal at the right price (don't overpay just because its a turnkey STR or you think it will make more money than projected), and look into ways to increase bookings during those slow months with some marketing and operation tweaks. 

And over time, as those assets to make our product we sell had a fixed price, the dollar does not sit fixed, our cost of product increases meaning increased cash-flow.

Rents have increased significantly but so have housing prices. 

Leverage will be reduced from the max available, reserve requirements increased and, typically, you would be required to use a professional property manager.

I'd be confident you'll have many takers.

Whichever direction you go, be sure to work with folks who understand this and gives you the confidence to take reasonable action - I'd personally take an okay investment and weather the storm for a few years that will eventually perform well, and do that each year - rather than take 3 years to wait for the best deal possible.

And while I agree that debt is often the cheapest form of capital, if you are looking at a project that involves some form of value-add business plan, you can always refi either when rates come down or you have increased the yield on the asset to exceed your interest rate.But like Stuart noted, for many groups, even the most seasoned syndicators, raising call cash for their deals is effectively impossible.  

However, investing locally has become increasingly unfeasible and unrealistic due to the high costs.

That may increase your cost or limit the coverage you can get.The Year that the following were updated (either partially or fully) would be good to know:- Heating systems- Roof- Plumbing- electricalSome companies will not write properties with systems that have not been updated.As long as you are living there, the proper policy for a 1-4 family is a "Homeowners" policy.

The offer to “help” hopeful participants obtain increases in their credit card limits6.