I am interested in acquiring a few properties in Colorado Springs to use as Air BNB properties. Does anyone have any insights?
If they are in a quiet residential area, I would not recommend it.
I think it's a great idea. We've got a lot of clients looking down there and my in-laws have an Airbnb property down there. And actually my wife, @Erin Spradlin , and I are closing tomorrow on a SFH w/ a carriage house just east of downtown Colorado Springs, and we plan on Airbnb-ing both units. The returns aren't quite as good as Denver, but they're still good, and the prices are lower in the Springs.
And of course, the big reason we like it down there is because the regulatory environment is friendly to Airbnb/VRBO and short-term rentals. I say go for it. I might be biased, but I'd suggest working with someone who understands Airbnb -- both how to set one up, the areas that work, and the STR laws.
I currently manage 6 (soon to be 8) properties that I boon through Airbnb/VRBO in the Springs. So obviously I think it's a good idea. :)
@James Carlson made the key observation about the regulatory environment. I would add that the short-term rental cycle is seasonal here--there's a bit of a winter slump so be ready for that. If you have specific questions I'd be happy to share what I know feel free to DM me.