It took weeks for us to work through pages of approval requirements and get this lender comfortable with the team we had put together to carry the development forward.The other critical piece to the funding equation was to assemble a team of investors capable of supplying the 20% in equity financing ($1.8M).

It seems logical that the demand for STR would be higher in the mountains, but also the supply would potentially be higher in the mountains as well.

If I was to pull the plug on my day job and go to a place with low entry point and good housing supply and opportunity for low entry point it would be Detroit. 

The community is great and close so demand for rentals there outweighs the supply.

Are you supplying Water & Sewer?

We recommend the well and supply lines be fully evaluated by a qualified well and/or plumbing contractor

You’ll need to go to a plumbing supply to get it, but it should last a lifetime.

It sounds like they're blowing smoke.  

We actually terminated their lease and we don't have to cite any specific reason in NC, we just have to give 7 days notice, but we did let them know that they had three clear lease infractions. 1) Drugs are not permitted 2) they were smoking on the property/in the house and 3) their renters insurance had expired. 

No one has repurposed that stuff, but short of new supply, office is just perpetual.