Overall between tourists and remote workers, it seems like a very transient population vs a sizable nand sustainable migration.

At $200K or more, then you start seeing some return on the effort to sustain a 401(k) and eliminate UBIT, but it is still only a few hundred dollars a year. 

Loaded question, but could it work or is the model just not sustainable?

I would say MikeOH has a sustainable model where not only does he have sufficient cash flow he is using bank financing to grow his portfolio.

Bottom line is the explosive growth of the last several years is not sustainable indefinitely.

I work as a Nurse Practitioner, he works as a manager of sustainability for a large company. 

However, ensure that you've thoroughly vetted the alternative investment for viability and sustainability.

I have this in cash and have no clue how to allocate it into the analysis...This would be my first investment property.I’m in the construction business and will use my own crews for all rehab except for electrical.As for the area, it has two large projects that are ongoing and have an expected project lifespan of 10 years for construction with expectation that both will be sustainable for the foreseeable future.

Im in a similar situation and your post resonated… purchased with tenants in place and I think I need to rip the band aid off to get to market rent.

It's not sustainable.