There are certainly some advantages to short-term rentals but just keep all aspects in mind.  

Reading a bunch of these articles and comments we forget these tenants are also our customers if they are not paying and it's the first month that they've done this often times some Grace is allowed especially if they are communicating the situationbut if they're doing this frequently and not communicating and likely short paying every month then quickly move to have them effected each state or province has their own system best to research that or hire a paralegal

Seems like the good ones also have pretty short buyers lists...

While I wouldn't give a tenant a discount for stating they will stay longer than one year I wouldn't entertain renting to another tenant who is guaranteed to be a short term tenant for a nominal increase like this one.

We haven't researched it much yet but I've thought about a short term rental (like air bnb) on either Lake Holcombe or Lake Wissota and those are right in your area.

So, the long and the short of it is that yes, bad stuff can happen to you as a LL; but this is what I have chosen to do.

That's the short story. 

.#2 The term / baloon is way WAY too short. 

Scottsdale would be the goal and I’ve been a bit concerned about the up and coming short term rental laws that have been popping up in some states.

So long story short I was able to get the property price to $57,500 and ARV was $75,000 with a potential market price at $128,000 with the highest at $150,000.