If most people bounce around different investment vehicles, and end up in REI, how do they survive another 2007-2008 cycle?  

Do not hesitate, to post questions and bounce ideas around in applicable forums.

We bought it for us in the near future but use it as a STR in the meantime to pay down the mortgage .I said the exact same thing as you: I want to bounce to places I want to spend time in.

I was bouncing around a few strategies myself before i settled on buy-and-hold, a.k.a. being a landlord.If you want to see what all these strategies can be there are a few good ways to do it here and it wont cost you a penny.

You probably should bounce this off a real estate attorney, but mortgages change hands all the time and I doubt you have to be a broker to assign an interest in this one.Let us know what you learn.

If we had to exit today we could comfortably reduce the price and make good money, later on it will be even larger, so more room for BRRRR'ingDon't worry, my first deal missed the market bottom and I had to eat crow on that house while I waited for the market to bounce a few years later.

We are also hoping to network with other investors (talk shop, bounce ideas off of, etc.), find partners and deals.

I love the positive mindset offered by everyone here and can already tell this will be a great place to bounce around different ideas. 

First, you can't be bouncing back and fourth between standard rental and STR, that's a 1st choice of what kind of business do you want to run, a rental housing OR Hospitality business. 

What are the thoughts on how the area will be able to bounce back from a tourism standpoint?