Vacation Rental 'backup' plans
Hey all, for those of you who have/had vacation rentals that started off great but the location is now not as desirable for tourism, etc. What do you typically do with these vacation rentals? Do you convert to standard rentals (and does this work/make sense most of the time?) Or do you typically just sell or 1031 the property to something else? I guess this question is aimed mostly at those who are into vacation rentals as well as buy & holding standard properties.... is there room for a crossover or is that a pretty rare thing?