What is your Plan B?
The short-term rental industry is taking a hit, especially those AirBnB arbitrage folks. Even if the market recovers, this summer may still see large losses as people focus on getting back to work and paying bills. I personally live in an area that relies on tourists (many Chinese) traveling to Yellowstone National Park and I'm expecting tourism to be down as much as 40 - 50%.
If you have a short-term rental, how will you survive if the market fails to recover? Will you convert to a long-term? Shut the property down and wait out the storm? Start running an illegal brothel? Sell the property and switch to something else?
