Thoughts on Sedona, AZ area market?

20 Replies

Have recently considered purchasing a rental property in the Sedona area and wanted to know some honest opinions from others with experience in this market.  I've came across some relatively decent priced properties (compared to major city markets) but with the potential for positive cash flow from short term rentals (AirBnb, VRBO, etc).  

Any thoughts on this type of rental.  How much does exact location matter for rent-ability in this market?  In the City of Sedona vs. nearby such as VOC.  

Also, how seasonal are rentals?  I know March-May is busiest, but hoping the rest of the year wouldn't be completely dead.  

Hi Mitch. I have quite a few clients who have purchased Sedona rental properties, through me. The short answer is, you cannot buy just any property in Sedona and have a great ROI. 10% of the homes, available, are good rentals. 1% of the available listings are fantatsic rentals. If I can help, let me know.

I own 5 vacation rentals in Sedona and am under contract on a 6th. It is getting much harder to find good properties to operate as vacation rentals in the area. This is because the market is hot (the whole state is) and acquisition prices have been going up. Also the vacation rental market has become more and more saturated so nightly rental prices are not going up, but staying flat at best.

With that said the right properties in Sedona can absolutely kill it with good operations in place, I am talking 12-18% NOIs. Most of the established property management companies in Sedona are not good with less than 30 day rentals even though they claim to be. They are great for 30 day + furnished rentals and also long term rentals, but they have not kept up with the times in the less than 30 day "rental" market and will not bring you the NOI that is actually possible on these.

Operations are key to driving the highest ROI on vacation rentals and it is not nearly as easy as people assume.

Busy season in Sedona is Spring and Fall. The slow season (summer) is really not that slow if you have priced your properties correctly. I use pricing algorithms so my rates are different all the time. Different days of the week, time of year, and local events affect these rates. Also the rates are affected by how far in advance a guest is booking or how last minute a booking may be. I also use differing night stay minimums depending on how far in advance a guest is booking. Further out = longer stay mins. Last minute = shorter stay mins. (Mon - Fri last minute I allow 1 night stays, weekends always 2 not matter what to avoid parties being thrown.) I have achieved 90%+ occupancy rates in Sedona in 2017.

I focus personal investments on small units, preferably 2 bedroom units. Small units are easier to keep more fully occupied than larger houses. They are also much easier to turn over and prepare for the next set of guests. Additionally, they are less maintenance intensive. I recommend investing in updating to a modern design and dont just put old second hand furniture in your properties (many will suggest this). To stay competitive you need to have quality properties and there are just lots of dated places in Sedona that people are short term renting.

Make no mistake, short term/vacation rentals are the hospitality industry and should not be treated like long term rentals. That is if your goal is to maximize ROI, then you need to treat them like operating a hospitality business. If you just want a second house and want it "rented" sometimes then you dont have to worry that much, you can certainly drive some extra revenue fairly easily, you just wont come close to maximizing the financial performance of the property.

Be weary of what local people tell you about vacation rentals, everyone thinks they know a lot but they really dont (I am not referring to Chad, but to property managers, cleaners, and other owners that have done this in the past on VRBO). The space has changed drastically over the last 2 years and for an established property manager their systems do not integrate well with the new changes in the space.

You need to understand HOAs can ban short term rentals even though AZ passed SB 1350 Jan 1 of last year (Google SB 1350). So you need to look for properties not in HOAs or in HOAs that allow/regulate short term rentals or dont mention anything about them in their CC&Rs. Note that if an HOA does not address less than 30 day "rentals" in their CC&Rs that is possible the CC&Rs go on to be amended to ban them.

People seem to either love short term rentals or absolutely despise them, so many wont be happy with you for turning your property into one. Even if you have actually improved the property and neighborhood as a result.

I am licensed agent but not longer focus on sales or leasing. I have also managed vacation rentals for other clients in Flagstaff as well as Sedona. Mostly all I do now is operate my properties and search for new good vacation rental properties in Sedona, Flagstaff, and also now parts of the Phoenix Metro area.

Brain is your portfolio primarily vacation rentals? What is your plan/exit for when the economy slows as vacations being one of the first things folks cut during harder times? 

Great post by the way! 

Frank, yes my portfolio is primarily vacation rentals. I did complete one successful residential flip last year in Flagstaff though. I am now interested in getting into larger multi family properties and/or mixed use real estate that will have at least a portion of a building converted to short term rentals.

The travel and hospitality industry is booming currently. Hotels are achieving record success along side vacation/short stay residential properties as well currently. Yes, this will likely decline down the road as business cycles are repeated. However even in the down turn, our area still had many tourists. I am a strong competitor. In vacation rentals there is plenty of opportunity to just simply out compete other properties/owners.

There are many nuances, long story short it comes down to your marketing, reputation, customer service, RE improvements/design, and pricing. The worst vacation rentals will be the first to take the hit, the best ones in their respective category I believe will still do at least fairly well. You have to have the best run properties in their respective category (example: my properties are the best bang for travelers traveling in groups of 1-5 people in our area. My guests get a good value compared to their other options overall. I view them as being the best budget properties available).

You can have the most amazing property in the world and not be successful because the Real Estate is only the beginning of what makes for a successful vacation/short stay property.

There are a few exit paths from my properties. Here are a few possibilities:

1. After having a couple years of proven financials, sell the properties as turn key vacation rental investment properties. This is a value add play by later valuing the properties according to market cap rates for commercial and investment property in our area. For example if my properties are achieving 13 CAPs and our market CAP rates currently are a 7 then I have substantially added value. It means the properties are worth more than market rates for similar residential properties on the MLS that are not operated as vacation rentals. The properties would be sold with management agreements in place with either my management company, or a new company I have done a deal with that has proven to me they actually know how to optimally operate these properties. So there is further potential on the management side here to keep operating and flip the property.

2. They can always be converted to furnished 30+ day rentals or unfurnished long term rentals. Not optimal in my opinion but would not be the end of the world. They would at least break even or come close it if fully leveraged.

3. They can simply be sold on the MLS as residential properties. So far just being valued in this basic way they have all appreciated as our residential real estate prices have been steadily rising the last few years here in AZ.

4. I have bought a few of these with cash. The capital came from other successful investments. On the others I have a partner that has put up cash to buy these properties. 

The plan has been to leverage some of these properties to buy more, or go into another RE venture. There a few different ways I think this can happen. One is standard residential cash out refis or lines of credit. 

Another possible better alternative is business financing or a portfolio loan with these properties as collateral. In this scenario the properties should be worth more than the real estate value based off the residential MLS, since they can be valued off the income they generate.

Thank you for this thoughtful discussion. I've also thought about investing in Sedona. This was a good evaluation. 

I was just out in Sedona in May. People everywhere. Took the side roads up there from Phoenix. Surrounding towns are building out. I did the numbers on my TripAdvisor rental. Pretty good.

From what I can see, the numbers keep getting better in Sedona. I hear concerns of saturation, but I'm not seeing it- Based on demand and the trend of increasing demand VS rental supply. My clients are seeing a strong ROI with high occupancy rates.

I do flips (4 in process), vacation rental (had 5, down to 2 now), new multi family/student rental (2 in process), and new SFR. All of this is just up the road from Sedona in Flagstaff. The docs who bought my last flip had just bought a vacation rental in Sedona. They were rolling out of all of their vacation rentals in Florida, Mexico, Hawaii.. mainly due our market and the fact that the Arizona senate just acted to protect vacation rentals from local city/county regulation. Sedona is partially in Coconino which had just passed vacation rental regulations when the legislature preempted and forbade such (A CITY OR TOWN MAY NOT PROHIBIT VACATION RENTALS ...) To say the effect was positive in its appreciating non-HOA property around here is and understatement in my experience.

I furnished, staged, and vacation rented one recent flip as a vacation rental before selling it, just to prove the income potential. What Brian G. said about selling CAP is dead-on. Whether its student rental, new SFRs, new multi-family, or vacation rental, nearly all my buyers are buying CAP rates. One foreclosure I picked up for 100K, sold for 360K mainly due to CAP rate. SO, is vacation rental strong? Absolutely. And not just due to AZ laws. Northern Arizona gets nearly 5 million visitors to the Grand Canyon every year, the vast majority cruising near or through Flagstaff / Sedona. We sit on the cross roads of 2 national arteries (I-40 and I-17). We have a major state university which fills us during the winter. We have a ski resort in Arizona. Flagstaff and Sedona are basically landlocked by federal forests so very little expansion possible. Add to all this an influx of California 1031 money and 5 million people baking in the deserts of PHX (the next closest place to cool off adds almost an hour to the drive from PHX). You have a real estate market uniquely insulated to downturns by numerous sources of housing pressure.

I bring a different perspective regarding the size of vacation rental.  Consider that really large vacation rentals are far more scarce than the medium/small ones.  Yes, there are more small and medium parties looking for a VR but the vacation rental economics of scale really kick in for bigger parties compared to booking hotel rooms.   My 8bed/8bath stays slammed even though the number of VR listings have tripled here in the last 4 years.  I just don't have the increased competition that the 2/1 and 3/2's have picked up over the past couple years.

Lastly, the vacation rentals take work. Communicating with guests and coordinating cleaning constantly need attention (if your place is doing well.) My wife refuses to manage any more of them! So we are now focusing on high density residential/multi family in the town/university center while working with the same passive investors looking for CAP rate.

I am in a Real Estate Investing meetup group here in the Phoenix area. Some of the guys in the group are now buying in Sedona as everything has become overpriced in the valley. They seem to be pretty excited about it. 

I think Jason R has a good point about the saturation of the 1 and 2 bedroom type properties. Also especially about the value proposition to your guests because a large groups saves more money per person for their travel accommodations. Just know that if you plan to invest in small units you need to make them competitive in the STR market place. Try to make them best in the market so that you always get a high percentage of bookings. Make improvements, invest in design, and most definitely use a professional photographer for listings at a minimum. Consider using a company like Evolve vacation rentals, or implement software like Guesty and push your listings to multiple market places (This admittedly takes a ton of work to do right and learn the systems)

Although I have not implemented this idea quite yet, several of my units are now in the same condo complex. So another angle is to make one listing for groups that includes multiple units. Then it may be possible to get a little bit of the best of both worlds because you can still get groups to book. Ill have to report back if I eventually experiment with that.

I did operate one large house in Flagstaff, very close to the ski mountain road and incredible mountain views. It had 5 bedrooms, 2 living rooms, huge backyard, huge kitchen, etc. This property was just an amazing value for guests no question. The thing I did not like about it was how long it took to turn over and clean. Even more especially was the risk of large groups throwing parties in the property. With my 2 bedroom 1 bathroom small units, parties are just unlikely. I never allow one night stays on weekends either to also combat this risk. 

I also operated a standard 3 bedroom 2 bathroom house in a family neighborhood in Flagstaff. I also have operated another completely remodeled high end and modern house downtown that has 2 bedrooms and 1 bathroom in Flagstaff. The party issue or just noisy groups that annoy sensitive neighbors was a fairly routine problem with the medium and large house.

I think it kind of comes down to operational style also. I have been looking at group home, hostel style properties, and 4-12 unit multi family properties in the Phoenix area market lately. I have looked with the idea of getting more economies of scale with operations and strong ROIs, adding value by using the STR model. Honestly, the way I operate my units, I see myself potentially getting in boutique hotel and or hostel like style of properties/business down the road. Most people are not trying to go this far in depth with this activity as I would like to.

I also think there may be some unique opportunities to condominiumizing apartment complexes. In my theory I could create CC&Rs for a new HOA that kind of specializes in STR operations in addition to the normal HOA management stuff for the complex. Never done this but have been thinking about it for a long time as I have gotten more exposure to HOA operations and issues with condo properties. You could have more exit opportunities this way as individual units could be sold off also. Four of my units (soon to be 5) are in a building that used to be apartments and now all units are condos. The HOA CC&Rs allows STRs, but the HOA management company has no experience operating short term rentals. Would be amazing to create and set up an HOA exactly how you want it for a specific activity! Then again this may be kind of like how timeshares are run.

My interest originally was all real estate deals and numbers. Because of that I ended up going down the STR path in my area. I just could not get over the potential for abnormally high ROIs and the fact that there was opportunity to think outside of the box. I thought there would be a lot of value add opportunities by improving income using a STR model. However, I have learned as Jason mentioned that the work required is intense. I have spent more time on management and operations than putting together real estate deals by far.

I’ve been considering moving to the Sedona area and am possibly looking for a home that could rent a portion out as vacation rental. I’m wondering if there might be potential in the Cottonwood/Cornville area. Or is it best to pursue Sedona?  Any thoughts would be greatly appreciated. 

Cottonwood, Camp Verde, and Cornville are all getting a lot of attention from investors who are having a hard time finding opportunities in Flagstaff or Sedona.  I believe (along with quite a few other investors I've been watching) that Cornville, Camp Verde, and Cottonwood have more upside potential that the significantly appreciated markets of Flagstaff and Sedona. 

As far as packing an accessory dwelling into your home and vacation renting. I build ADU's into almost every home I build anymore. It's how people pay the mortgage these days, or have mom/dad move back in etc. I really think its the smartest thing the average homeowner can do. If desiring to vacation rent, just make sure your location is good. Look into AirDNA to get a good idea of what income you'll really get (going vacancy rates etc). Any decent location in Flagstaff and Sedona is going to stay booked up pretty well, if you go into Cottonwood, Camp Verde, Cornville you're going to have to be more careful/selective and really have something to offer (like being by the creek in Cornville).

ALL, a Census Tract in Camp Verde is also listed an an Opportunity Zone. Great vehicle to cut Capital Gain taxes!

There are some beautiful spots in the Verde Valley including Cornville, Camp Verde, and Cottonwood. There is also lots of crap and run down areas in these little nearby towns however.

I think anything on the creeks have great potential, especially the Paige Area/Cornville. This area will continue to get more popular and more well known over time. I think the potential for appreciation may be much better here compared to Sedona also.

The problem is these other areas are not as well know as Sedona for travelers. If only the travelers could be educated more easily.....Many of them would book properties outside of town I believe.

Personally I think Sedona is way overrated. You can get so much more for the money (as a buyer or guest/renter) 20-30 min. outside of town in some beautiful non tourist trappy areas. Dont get me wrong Sedona is great and all, but there are other areas close by that just have better value. Sedona often feels like a giant tourist trap.

I lived in Sedona for two years. If I was to ever live in the Verde Valley again (Sedona is part of the Verde Valley), I would definitely live outside of town, probably Cornville. Sedona is so close anyway for super easy day trips to do whatever you want to do in town. You have to always drive to other parts of the Verde Valley to run basic errands anyway. Sedona is not a normal town, it is set up mostly for tourists.

But as far a short term rentals go, Sedona has serious pull! The city of Sedona invests lots tax dollars into marketing the town as a tourist destination. So, a well run and priced short term rental in Sedona can have very high occupancy rates. I do think this is leveling off and may decline somewhat going forward. But I think it will stay strong for at least some time. That is if an owner/operator stays on top of getting and keeping their listing in a strong search rank position on at least one major short term rental market place. 

The STR marketplaces (think VRBO/AirBnb) work a lot like Google. They are tracking lots of little things that will affect where a listing shows up on their site for travelers looking for accommodations.

I think Jason is right about ADUs. There are so many buyers looking for a way to bring income on properties and everyone is into AirBnb/VRBO right now.

I just listed one property of mine for sale in Sedona (VOC) and am fielding call after call from agents and buyers wanting to know about rental restrictions and if the property can be short term rented or if individual rooms can be...

Take note of the above.  Everything Brian said above is dead on.  Sedona is overrated for personal home but might be the best move for a vacation rental.  

"The problem is these other areas are not as well know as Sedona for travelers. If only the travelers could be educated more easily.....Many of them would book properties outside of town I believe.

Personally I think Sedona is way overrated. You can get so much more for the money (as a buyer or guest/renter) 20-30 min. outside of town in some beautiful non tourist trappy areas. Dont get me wrong Sedona is great and all, but there are other areas close by that just have better value. Sedona often feels like a giant tourist trap."

I lived in Camp Verde for 7 years, Cottonwood for 6 years, Sedona for quite a bit longer and my mom lived in Cornville for 12 or so years. And I serve in all of these areas.

All the towns are different and where you choose, should be based off of budget, as well as what you want in your town, and how close you feel you need to be, to various resources and activities- such as hiking, biking, swimming, shopping, views, etc.

Camp Verde, Cornville and Cottonwood are less expensive than Sedona.

Cornville is a much smaller, slower, quieter town with less resources, although just 5-10 minutes from Cottonwood and its resources, as just 15 or so minutes from Sedona. Cornville tends to have less views.  Verde Santa Fe, a tightly packed subdivision with nice clubhouses and pools is on the edge of Cornville.

The local MLS merges Page Springs and Cornville, although they are deifnitely separate towns. Page Springs is wonderfully green and quiet. It is small and there is very little room to build and few homes are ever for sale, as there simply are not many to begin with. Little to no cell phone signal, as it's surrounded by hills/mountains. Oak Creek flows through town, providing vineyards with the water they need.

Cottonwood has more resources and jobs and more options for less expensive housing, but has a bump in crime in the less expensive housing areas. There is some river irrigated property, although not much. There are more options for homes with distant Sedona , as well as other views. There are some subdivisions with clubhouses and pools, and there are subdivisions that are more spread out, without these amenities.

Camp Verde has more irrigated properties and spans along the Verde River. It is a bit separated from resources, although only 20 minutes from Cottonwood, 25-30 minutes from Prescott and 1.5 hrs from Phoenix. It is fairly slow paced and quiet. There is a Bashas' grocery store and a few restaurants. It is also known for hosting the Cliff Castle Casino, which is on the edge of town.

Sedona is my personal favorite, although more expensive. Loaded with hiking and biking trails, and of course- dynamite red rock views. 45 minutes from Flagstaff and 2+ hours from Phoenix. The Oak Creek flows through town, helping it stay green. Little to no crime throughout town.

You CAN avoid the tourism traffic, if you live in West Sedona. Most everything will be 5 minutes drive away. Another option for avoiding traffic is to purchase in the Village of Oak Creek (VOC), which the locals, the mls and the post office consider Sedona- although legally it is not Sedona. It is considered Sedona because the VOC still has many of the views and has the same sort of "feel" as Sedona, proper. If you choose to buy in the VOC, you plan ahead to drive to Sedona, proper from Sunday - Thursday. On Fridays and Saturdays the drive *can* take 45 minutes or an hour, instead of the normal 15-20 minutes.

From an investment standpoint, short term rentals give a better return in Sedona and VOC. Long term rentals give the best return in Cottonwood (There are not enough of these rentals in Cottonwood!) There are single family flip opportunities in Cottonwood around the $200k - $300k range, and coocasional flip opportunties in Sedona from $280k - $450k+.

Originally posted by @Chad McMahan :

I lived in Camp Verde for 7 years, Cottonwood for 6 years, Sedona for quite a bit longer and my mom lived in Cornville for 12 or so years. And I serve in all of these areas.

All the towns are different and where you choose, should be based off of budget, as well as what you want in your town, and how close you feel you need to be, to various resources and activities- such as hiking, biking, swimming, shopping, views, etc.

Camp Verde, Cornville and Cottonwood are less expensive than Sedona.

Cornville is a much smaller, slower, quieter town with less resources, although just 5-10 minutes from Cottonwood and its resources, as just 15 or so minutes from Sedona. Cornville tends to have less views.  Verde Santa Fe, a tightly packed subdivision with nice clubhouses and pools is on the edge of Cornville.

The local MLS merges Page Springs and Cornville, although they are deifnitely separate towns. Page Springs is wonderfully green and quiet. It is small and there is very little room to build and few homes are ever for sale, as there simply are not many to begin with. Little to no cell phone signal, as it's surrounded by hills/mountains. Oak Creek flows through town, providing vineyards with the water they need.

Cottonwood has more resources and jobs and more options for less expensive housing, but has a bump in crime in the less expensive housing areas. There is some river irrigated property, although not much. There are more options for homes with distant Sedona , as well as other views. There are some subdivisions with clubhouses and pools, and there are subdivisions that are more spread out, without these amenities.

Camp Verde has more irrigated properties and spans along the Verde River. It is a bit separated from resources, although only 20 minutes from Cottonwood, 25-30 minutes from Prescott and 1.5 hrs from Phoenix. It is fairly slow paced and quiet. There is a Bashas' grocery store and a few restaurants. It is also known for hosting the Cliff Castle Casino, which is on the edge of town.

Sedona is my personal favorite, although more expensive. Loaded with hiking and biking trails, and of course- dynamite red rock views. 45 minutes from Flagstaff and 2+ hours from Phoenix. The Oak Creek flows through town, helping it stay green. Little to no crime throughout town.

You CAN avoid the tourism traffic, if you live in West Sedona. Most everything will be 5 minutes drive away. Another option for avoiding traffic is to purchase in the Village of Oak Creek (VOC), which the locals, the mls and the post office consider Sedona- although legally it is not Sedona. It is considered Sedona because the VOC still has many of the views and has the same sort of "feel" as Sedona, proper. If you choose to buy in the VOC, you plan ahead to drive to Sedona, proper from Sunday - Thursday. On Fridays and Saturdays the drive *can* take 45 minutes or an hour, instead of the normal 15-20 minutes.

From an investment standpoint, short term rentals give a better return in Sedona and VOC. Long term rentals give the best return in Cottonwood (There are not enough of these rentals in Cottonwood!) There are single family flip opportunities in Cottonwood around the $200k - $300k range, and coocasional flip opportunties in Sedona from $280k - $450k+.

Good points Chad! Especially about long term rentals in Cottonwood. 

I think the Short term rentals in Sedona have driven up the long term rental market in Cottonwood. The different towns of the Verde Valley (Cottonwood and Sedona especially) kind of support each other. Cottonwood's cost of living has always been lower than Sedona so it serves as the home for Sedona's hospitality and service based workforce. Cottonwood was always a lower cost housing solution for those working in Sedona or that just want to be close to Sedona without the expense. With the rise of STRs, even more long term Sedona Residents have moved to Cottonwood, so long term rental demand has gone up there.

I used to live in West Sedona and mostly agree with Chad, but beware of busy season if you have to go anywhere near uptown, go to the Village of Oak Creek or need to drive north to Flagstaff. Traffic bottlenecks very badly for such a small town. You will be waiting a very long time to drive a very short distance. The Sedona "Traffic" is constantly a local issue and you will hear a lot about it and see it first hand during the Spring and Fall especially.

Also the Village of Oak Creek has some of its own things going for it so yes you can avoid a lot of Sedona for some periods of time. I operate 5 units there (not in the VOCA association that controls 75% of this area and currently bans STRs). But when you have to drive to Sedona's Uptown or need to go to West Sedona, the traffic build up along 179 is just crazy in the Spring and Fall. You will also have very long wait times in "traffic" going a very short distance at an absolute crawl of a pace.

Really the Sedona area has a small population and the "traffic" is nothing like a real city. Distances are short. So it is worth it to be there even with this annoyance. Just beware there are major bottleneck any direction around Uptown Sedona and it is a long time local issues that is only getting worse.

I still love Sedona, just personally find more value being just outside of it since nothing is very far away. If you live in Sedona you will quickly realize you are part of the Verde Valley as a whole and you will inevitably find your self regularly driving to surrounding towns (even Flagstaff north of the Verde Valley) to complete otherwise routine errands.

Brian G. and others here have made some good points about the vacation rental market here in Sedona driving up prices. I am a Realtor here and live in the Village of Oak Creek (VOC). Anything that has vacation rental potential is being snapped up, even RV's parked in people's yards. Large, expensive properties? They're sometimes being rented for weddings and parties, with residents not happy it's taking place in their million $ plus neighborhoods. 

Vacation rentals are prohibited in my neighborhood, but it's still being done quite a bit. Condos are going for quite a bit more over two years ago because of this. It's a double-edged sword, keeping many people's heads above water, giving great return to investors, but changing the character of some neighborhoods and the nature of the Real Estate business in Sedona. 

Hi Kathie. Sorry you are not happy with the increased number of vacation rentals and the impact on the market. I guess I see your point. However- many of those that complain, will eventually rent out their home when they go on vacation- if it's allowed; And sometimes even when it's not allowed.

I, however, think it's great what vacation rentals are doing for the market. Anyone motivated enough will find a way to be one of these owner/investors that is seeing this appreciation and ROI. I have helped many buyers purchase, that didn't think they were qualified. Many of them have gained $100k+- equity over the last few years. I think we are going to see a minimum of another 3 years strong appreciation.

Back on topic-

If anyone has questions about the various areas and/or would like a tour of areas that fit what you want, let me know. I'm happy to help.

Thanks, everyone for your insight! If there is anything else that anyone can weigh in on, I'd greatly appreciate it. My husband and I are considering a move to the area after visiting several times. We currently live near Detroit, so crime and traffic are not issues for us. Although we will both be "retired" from public school employment, we will want to continue working. I am a music therapist and my husband is a principal of an alternative school and is a Social worker. We are interested in possibly working in these capacities but aren't opposed to making a big change. I'm having some difficulty researching info with regard to "special populations" in the area. I'm thinking that beginning with some sort of STR as a part of our regular home there might help us with a way to move there. Any insight? Am I crazy?

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here