HOA voted to stop STR need advice

[Samuel Brittain]

So Jan 2023 I purchased a brand new home about 2 miles from the beach. The HOA at the time of purchase allowed STR and the dues are $20/yr. There are only 4 STR in the neighborhood and the HOA voted to stop allowing STR. The purchase price was 395k and furnishings cost about 20k. So down payment with closing was around 85k. I contacted a local realtor and could probably sell for 410k on the high side fully furnished. So my question is do I sell and take a loss of 35-40k, try to long term rent at around $2000/ month and pray for appreciation? My current mortgage payment is around 2700 with interest rate of 7.15

[John Underwood]

Sell, sell, sell and do it before other houses in your neighborhood hit the market.

You could also try making it a MTR since it's already furnished.

What are the other STR owners going to do?