I'm helping a friend that's looking into buying a vacation rental in a ski resort area.

It is in a sparsely populated area, but it’s halfway between a city of 300,000 and a popular resort region (think boating).I’m considering converting the warehouses to self storage units as a strategy and want to evaluate my market and this deal.I’d love feedback about what data I need to determine the cap ex costs, market considerations and pitfalls to avoid.Thanks!

He didn't do it because it was some secret amazing strategy, he did it as a last resort.

I had the same situation and have resorted to the biweekly payments.

STR management is perfect for folks who can afford a lake home or ski chalet and want to make some cash on the side.

It's a last resort when all else fails, but cannot be written off either.Nothing EVER goes to court without consulting legal counsel FIRST!

Strangely however no one is talking about the systematic devastation and migration that could emerge in cities and small towns with single economies like Casinos, Theme Parks, Tourism Resorts, Oil belt and College Towns.

Eviction is a legal process that you should use as a last resort. 

Some people think you need to be in the heart of Denver or in the ski towns to have success with Airbnb and short term rentals in Colorado, but there are a lot of other areas.

We are just breaking even, but I look at what it cost to stay at a moderate/deluxe resort at Disney for 2 weeks and I think I'm doing alright.