Close proximity to NYC, the nearby state park, and a destination by itself for certain people.

It's a global destination and a world famous city. 

There will always be demand in the market (it's not like some covid markets that could disappear as vacation destinations almost entirely over the next decade), and the regulation risk is as near to zero as you can get in this industry so long as you buy in the approved tourist zones (again, compared to some smaller/less mature markets where they could outlaw STRs tomorrow).For short period cash flow there are better options. 

@Paul Cox @Sarah Kensinger There is a lot to it obviously but one newer trick I learned is a site called seats.aero where you can put in your origin, destination, and dates and it will return a lot of results across all rewards programs.Using the above example I am actually flying on United but I booked through Aeroplan (Air Canada) which is a partner of United. 

lol it has nothing to do with my post..but in my younger ages, I saw this movie too many times,  Real estate builder / lender committed suicide or they were fleeing to GuangDong province in China to hide after their real estate project gone foreclosure after some interest rate changes (kinda like the same story of our own McAfeee) ......this kind of event from the 1980s has the same final destination lol loleven when I am invested these days I remember these movies..... unfortunatly the GFC caused many a suicide I knew two personally. 

Part of the value of the STR is that we will plan to use this property 4-8 times per year.The property is a few hours from the major metro that I live in, and is a vacation destination for lots of people in my area.

My unit is a 2/2 in Destin, but on the North side of the highway. 

There are still variables due to heat loss along the way to the units but the medium (water) carrying the heat is guaranteed to flow to its destination (radiators).

Too many investors overpaid for STRs in popular vacation destinations and painted themselves into a corner where the property only works as an STR.

If that's the case and you aren't viewing more properties in person than you are making spreadsheets on, you are destined for analysis paralysis.Spreadsheets can only tell you estimations based on numbers given to you online or by a real estate agent whose job is to sell the property.