Purchase price: $160,000 Cash invested: $70,000 Successfully bought and renovated a single family home in booming East Brainerd, Chattanooga TN, just minutes from the Hamilton place mall and Chattanooga's premier shopping destination.

I was listening to the BP real estate podcast last week (I think) and one of the sponsors was a company that helps you buy short term rentals in hot markets like Destin, FL (that's the one my wife is interested in). 

Purchase price: $160,000 Cash invested: $70,000 Beautiful single family home remodel in booming East Brainerd, Chattanooga TN, just minutes from the Hamilton Place Mall, and Chattanooga's premier shopping destination.

Since it is a unique property with 4 cabins in a vacation rental destination, I am assuming the best way to value would be a cap rate on NOI, as there are not really sales comps to compare.  

This is partly because the price point started lower than most destination areas.

The popular destinations seem to beCleveland, OhioCincinnati, OhioDayton, OhioToledo, OhioYoungstown, OhioCincinnati, OhioMemphis, TennesseeSaint Louis, MissouriIndianapolis, IndianaDetroit, MichiganErie, PennsylvaniaLouisville, KentuckyMilwaukee, WisconsinJackson, MississippiCleveland is the market I am most familiar with so if you venture down that path you'll want to check out The Ultimate Guide to Grading Cleveland Neighborhoods. 

For instance, @John Underwood has a waterfront property on a popular lake destination.

The attraction is the destination town, not the park per se.

The next winningest destination in that time period was Tennessee with 22 relocations from California. 

I can't say I've watched the market there, but personally I know people who have moved there because it's cheaper than, but still close to, Great Barrington which is a very popular destination and has a lot going on!