The information as to market pricing is too readily available to every seller, so that the advice of 25 years ago - target long term property owners who live out of town and haven’t kept up with the value of their property - is no longer a viable approach.So, what is left?  

The costs of transacting are too high, the rental yields are ridiculously low, the capital growth is being stymied by the governments recent actions and the affordability issue for locals is causing even more issues for investors.Investing in any property market requires the fundamentals to be in place to make it viable.

Hard money rates/terms so awful I don't see it as a viable option unless have some insane deal.

Sell or 1031 Exchange: If the property is no longer viable as a rental, you could sell and reinvest in a STR-friendly market through a 1031 exchange to defer capital gains taxes. 

In addition rent growth does not show a path to change that because the rent growth historically has not exceeded appreciation by enough to provide a viable path.  

Would that be a viable option?

Hi Olecia,As a loan officer, buying a second home for use as a vacation rental (Airbnb/STR) can be a viable option, but it's important to be aware of certain considerations.

That could be a viable option as housing and property prices increase.

While I was open to carrying a note, I wasn’t going to go that high.Unfortunately, there’s been an unrealistic expectation set by the gurus that relying on seller financing is a viable strategy for buying a business.

This again has to do with how well the model is changed.