You asked what we would do if in your shoes.....so here goes:I would buy a duplex/triplex/quad, in a area that tourists would desire.

It's a great location for tourists and on the parade route.Purchase price: $730kAppraised value: $770kRenovation costs: $350kEst. post-renovation value: $1.4mAnnual STR AirDNA estimate: $106k/yearI'm currently exploring options for help financing some of the renovations.

@Joshua Strickland, that is a good point but an existing cabin here is around 300k min, market is nuts with very low inventory (touristic destination in the Appalachian mountains).

 Girdwood gets winter tourists to ski Alyeska as well as the tourists during the regular summer season.

I learned that panama city fl is a great renters market because of the military base and it being a tourist area.

No more long term tenants with dirty yards and houses and cars up on blocks.c) Neighbors love them (except of course for the party atmosphere which has declined rapidly as AIR and VRBO have clamped down on that crowd)d) economic impact - most cities make millions more from TOT than they would without STRs, improving the quality of life for many, particularly the lower classe) the increased tourist activity brings in big $ for local restaurants, breweries, museums and the likeWell I'll stop the rant, you can see where I stand.... :-) Best of luck in your RE career if you go that path.... 

I am hoping that this means we will get the end of summer traffic for the sale (it is a summer tourist town).Please keep suggestions and opinions coming!

Back in the 20s it was a tourist town that people went to for healing in the mineral lake.

Miami/Fort Lauderdale area being very tourist oriented places makes it possible to have properties in populated area be short term rentals (Airbnb).

These cities aren't going to put in restrictions on the one thing that brings them the most business, tourists.