I live in south-central Michigan in a town called Coldwater.

The owners plan to stay at the property a month or so when in town.  

20% COC or better, tourist town where slim chance of STR regulation.4 or more bedrooms, mountain view, game room, movie room and possibly indoor pool.

The problems we run into they won't loan to a LLC, Population density(because some are in a small town), Rent is not high enough.

We need to move to another town for family reasons. 

We want to live on a hobby farm out of town and were thinking of buying land at auction and building.

We took a vacation here and absolutely loved this town.

My goal is to rezone (agricultural with residential use to residential) and subdivide the land as it is on a busy/main street with major residential single family and multi family developments around it.

As for people that invest in out of town markets I would ask your local realtor to help you with potential comps.

Hello All,My wife and I have an offer accepted on a property that we will be using as an STR/Vacation Rental.The area we are investing in is an up and coming vacation rental market compared to most ski/mountain towns in the West.