Made it into a luxury unit and sold by Oahu Luxury Homes.

Hi Kevin.I've been a realtor in Sedona for 15 years, and lived here for over 30 years, I specialize in 2 things: 1) Sedona Investment properties, primarily STR's2) Sedona Luxury Real Estate  Short version, Your summary is correct.

The first words out of the mayor's mouth, "To me, short term rentals are like a cancer on the city...Yes we do receive a lodging tax from that, but quite honestly, the amount of damage that short term rentals do to our city isn't outweighed by the amount of tax we receive."  

In the ones I have that it makes a big positive, they are all luxury.

Do you market high-end rentals in the same way you would market any other unit or do you take a different approach with luxury rentals?

We expect the tenant to purchase rental insurance that will cover their lodging in case the unit is not occupy-able.  

Learn from experienced agents and focus on what you want your niche to be (SFH, multi-family, condos/townhomes, luxury, investment property, specific location, etc.) 

Most people are now looking at home in gated or secured complexes if not luxury apartments due to the high crime rate.

We're doing the same except as a 506(C) for a 107 story luxury high rise in Denver.

Purchase price: $317,500 Cash invested: $80,000 Luxury townhome in a lovely neighborhood.