We make spreadsheets to decide which cruise we go on, so, yeah, lots of spreadsheets happening with this real estate thing!

If trying to cram a bunch of $ in ASAP and set it in cruise control, make sure you pay in the 7-pay premium.

Our more resort style destination type homes are very dependent on family travel and have the most seasonality, but also much higher ADR's. 

But still, why would anyone want to invest on sth that destined to loseas much as $1.3 million after 30 years of investment??

Pick two high end overseas tourist destinations. 

There is an abundance of supply, high price tag, it's more of a corporate travel town than a vacation destination (meaning that 1-2 bedroom units are in most demand, which puts you squarely in competition with hotels). 

A vacation-destination market, with year-round travelers.

But to @Zachary Cain Humphrey's point about motivation to buy a vacation rental in Colorado (or Destin or the Smokies) is that most of my buyers also want a home to visit.

I'm considering diverse options for reinvesting the proceeds ($200k+) from a planned 1031 exchange and am open to various strategies:Las Vegas/Reno: These markets offer potential for both cash flow and appreciation, but I'd need more information on their suitability for mid-term rentals and current market conditions.BRRR strategy: This approach could be attractive for value creation, but I'm hesitant about out-of-state management and require a turnkey or experienced team to handle renovations.Other locations: I'm open to exploring other markets offering favorable investment opportunities, particularly turnkey properties or areas with manageable maintenance requirements.My preferences:Turnkey properties: Minimize management headaches and focus on cash flow.Limited appreciation: While some appreciation is welcome, cash flow is the primary priority.Shorter-term rentals: While Airbnb isn't an option in my current area, I'm open to exploring short-term rentals in other markets.Avoidance of major renovations: My recent experience has solidified my preference for well-maintained properties.Current portfolio:3 duplexes in Missouri (mixed performance)1 single-family home in Memphis, TN (turnkey, positive experience)Questions for the community:What are your thoughts on Las Vegas and Reno as potential investment destinations?

So before I paid them I asked them if I wanted to come to meet in their location and they said we were on a cruise but they could do everything online.