Also some state/local regulations might be in play. 

Hello BP Community - Does anyone know if Morrison, CO has any short term rental regulations, or where to find them? 

After much back and forth with our attorney and their regulators, etc they decided series LLC’s should be a part of their customer base and have rewritten their policies to accept them (and us).

Your biggest hurdle will be dealing with regulation red tape, and finding a place where it can be done.

In my view, the rules keep you from investing a sizable portion of your net worth on a lightly regulated investment marketplace.  

Check for Superhosts in the area with high ratings and reach out to see if they’d be open to managing your property.When choosing a management company or co-host, make sure to:Compare fees (usually 10-20% of rental income for STR management).Check reviews or ask for references.Ensure they have good local knowledge and can handle STR regulations in Indy.If you need further assistance or advice, feel free to reach out.

Yes, market is volatile, interest rates are fluctuating, but the fact that we can't neglect is that banks are more regulated, lending practices are stricter, and the housing market is not based on a pile of risky mortgages. 

Hard to tell without knowing the place.Then you have to worry about changes to the regulations that could mean your place can't be rented short term.

This is highly regulated.

Saturation/competition and regulation being the 2 biggest challenges.