It could be even worse if there is a recession when you go to sell, because property values in vacation markets are the first to take a hit.

This will also drive a shift in the market as competition heats up for the newer units.Also, according to economist in the area, we are heading into a recession in 2018 and that will likely have an impact too.Bottom line, most investors believe we have hit the top of the curve in the area. 

Sure tourism may slow down at times during the year or during a recession, but I'm talking about regulatory changes to AirBnB cities and stuff out of your control. 

@Jonathan Edmund   Congratulations,  you are on the right path,  I have been an agent for more than 13 years,  at the beginning I got my home but that was a big mistake, when the recession came in 2008 I lost almost everything, that was a great thing to learn, not I am renting but have great portfolio of rentals,   your home will not make any money for you,  rental yes,    good luck 

One of the reasons apartments held up better than SFR during the last recession is the lender's upfront underwriting that required some cash flow.  

Items I need to do : light demo- Rip up old carpets install luxury plank through outpaint entirety of home replace kitchen lights with recessed reno master bath- New toliet, new flooring, new shower insert landscape Trying to figure out if I do flooring first or last ? 

For instance, if your personal balance sheet is robust you can ride out a temporary dip in valuations (due to a market downturn/recession).

I can talk about OKC all day, but it's super insulated against recession, consistently provide 8%+ returns and has entry points as low as 50k!!

Wholesaling is like anything else in a recession.

I lost it all (luckily without using other people's money) in early 2000s but rose from all that and since putting up my company - Nassau Investments in 2006, we have not lost any of our investors' money (even through 2008 Great Recession).Start with ONE BRRRR on your own, risking YOUR money first.