I did STR in a duplex starting back in 2017 and managed for others in North Conway, Ive since converted to all long term tenants and happy i did so... unless your property has something unique or a "rare" amenity.... like, sleeps 30, I honestly would not waste any energy on it in the north Conway area. so saturated, and so much big money being invested in the hotels, its tough to match amenities vs cost, and I see travelers trending back towards the hotel style accommodations. granted, for the right price, I'd buy anything and figure out what the best use for it is. use airdna.co for decent data on # of Short term rentals in any particular market. can also identify opportunities. the point of my response.... be careful in STR in any area and always have a plan B. you can change a lot of things about a property, but your cant change your basis!

Market Research: Study the local market trends, job growth, and property appreciation to ensure long-term profitability.

This will help you spot good deals as you become more familiar with pricing trends and opportunities.

The appreciation may not be as strong as in the hottest areas but they do make for great buy and hold rentals.

(ICF Global Coaching Study (2019): Rates and trends for coaching in high-net-worth areas.)

I regularly attend workshops and seminars to stay updated on industry trends and best practices.

You'll need a reliable network of local professionals (plumbers, electricians, handymen) you can trust.Hiring a Property Manager:Peace of Mind: They handle day-to-day operations, tenant communications, and legal compliance.Local Expertise: They understand the local market trends and rental laws in Colorado Springs.Cost: While there’s a fee, many find it worth the reduction in stress and time commitment.Lessons Learned from ExperienceBuild a Strong Local Team: Even if you manage the property yourself, having a dependable local handyman and a real estate attorney can save you headaches.Leverage Technology: Utilize property management software for rent collection, maintenance requests, and tenant screening.

I’ve worked with a number of out-of-state investors and can share insights on the neighborhoods, market trends, and rental demand.Since you’re visiting in October, I'd love to meet up and go over some potential investment opportunities in person.

Daytona was rencemtly marked as the 3rd hottest market to invest in 2018.  

I'm not sure how pricing appreciation will go over the summer, but even winter has kept the steady upward trend so it seems likely to stay on the same path.