Additionally, my extensive knowledge of the local area gives me a competitive edge over other investors.2.

Sometimes they have off-market properties they’re ready to sell, and that’s a big win for you (less competition and more opportunity!)

I think these regulations improve accountability, generate revenue, ensure fair competition, protect neighborhoods, address housing shortages, and promote responsible property use.

While it's a great spot with a ton of tourism unfortunately, it seems the hotels view STR's as competition and have helped to encourage the strict regulations.

However, smaller properties tend to have asking prices influenced by factors like local demand or future appreciation potential, not just rental income.If you're finding that the numbers from the cap rate approach are consistently coming up lower than the asking price, it may be because the market value is being driven by different factors, especially in a competitive or appreciating area.I’d recommend using comparable sales as your primary tool while keeping the income approach in the back of your mind to avoid overpaying.

It’s an underrated market that still offers solid cash flow and equity growth, with lower competition.

If they make 3k a month, you'll probably top out at 1k for rent.Also, go on apartments.com and zillow and see what the competition is charging.

Many Realtors are bitter because you are effectively competition on what could have been their listing.

This way, you’re not at risk of losing all your hard-earned feedback and visibility, which could set you back in the competitive short-term rental market.It's essential to find a PM who can work with you in this setup, as it's a balance between functionality and maintaining your property’s reputation online.

I think the best ways to check out the competition are to go on sites like Furnished Finder, check Airbnb/VRBO (for 30+ day stays), and look on Zillow as well for furnished 30+ day stays.