I am days/weeks away from trying it at my personal residence.  3500 sqft but only two people using it, so not sure how good of a test it will be. 

However, I think for the average person this is probably not true. 

Rentals are extremely difficult to make pencil right now but would only personally consider higher end projects because the costs are far easier to absorb than trying to build in lower value neighborhoods.

I’m personally based in Houston, TX, and I’ve noticed over the years that a good realtor can do a lot more for an investor than just listing a property.

@Steffany Boldrini As a lesson to other people hiring interior decorators online, can you please tell everyone what caution flags should have told you not to hire this person?

Quote from @John Fleming: I don't have any personal recommendations, but something below may help you in the search.Start by going to www.narpm.org to search their directory of managers.

i'd pick a market close by, or that you have a personal connection to, or that you visit often.chasing cash flow by itself can lead to negative outcomes - for example, these investors bought in supposed "cash flow" markets:https://www.biggerpockets.com/forums/12/topics/1215726-break...https://www.biggerpockets.com/forums/963/topics/1195280-expe...https://www.biggerpockets.com/forums/48/topics/1137397-balti...hope this helps.

I have personally wanted to build my home on this land for 10 years, as I've always been interested in this.Issue is, I've never done any work with residential development, only smaller land development, about 13 acres, and commercial, all on my own.With the residential development, I'm trying to get a sense of anyone in the space currently and what some ballpark costs might be for infrastructure and how that all works.

However, he asked me to sign a one-year Exclusive Right to Represent agreement, as presented to him by his brokerage.His interpretation is that it applies only when he materially assists me, but I think the boilerplate brokerage language he was given reads much more broadly:"If during the term of this Agreement Buyer enters into a contract for the purchase of Property through the services or efforts of the Broker or Buyer’s Brokerage Firm, or by or through any other persons during the term of this Agreement" (emphasis mine).My concern is that, under my interpretation, if a fellow real estate investor wants to unload a property or if I get pointed to an opportunity by a former agent, colleague, or friend, this agreement could create an obstacle to moving forward with the deal.In the end, I didn’t sign.

If it passes, I think the motivations to buy a vacation rental in Colorado will change from mostly investment to mostly personal.