I would be cautious at these levels and look for deals or at least have some buffer in what you think you can pull in based on occupancy and current nightly rates.A unique property may give you a leg up over competition. 

I have yet to find a niche market, property type that is NOT super competitive and crowded these days.

It's a unique property which is where I may run into trouble.

If you talking about creating a business around it, the most successful contractors I know have niches.

All you need is a regular bank account from any bank or credit union, unless your state has some unique requirement I'm not aware of. https://www.nolo.com/legal-enc...You would do well to purchase "Every Landlord's Legal Guide" by NOLO.

As someone who is also looking to get into that niche, it's always great to hear these "new guy success stories".

.- Purchase unique, vintage, higher quality furniture on Facebook Marketplace, estate sales, and garage sales instead of buying cheap stuff from the big box stores.- The automation services such as Hospitable, Pricelabs, etc. are worth it in my opinion

From my experience, most of the time but definitely not all of the time, Airbnb's seem to be more of the niche market, shorter 1 or 2 night stay kind of places, whereas VRBO listed properties seem to be more true vacation rentals that owners have invested deeply in.

- Craig Memory (best real estate agent in Myrtle Beach)- Ben Kyle of NeoHome Loans (our lending that worked with our unique situation)

This niche can be one of the most stable and profitable when done right.