Let's say you are buying your first STR before the end of this year, in time for the holiday booking spike.

Now what are they going to do about the $2.5K bill since they took about 3 months to notify you about the spike in usage? 

our market is pretty steady, we never see spikes, even through the crash, we maybe lost 20% from the top of the market. that being said, its not common to sell a house quick either, so a 150 DOM is pretty standard, even if you are priced right. 

If they do not, they take the risk of never being able to live in the place they actually want when they get much older.Certain cities like NYC and SF is a must if this is where you want to eventually live for the long term.Rents spike and continue getting higher.Every year for the last 2 decades I keep hearing all the excuses.... it's too expensive to buy in NYC.2 decades ago, when I bought my first Investment, a 2 Family in Brooklyn, was $350k.Today, I can sell that investment for $1.5 Million.BUT, instead of being happy that I have made so much money for that one single property.... what makes me more happier is the fact that I live in that Investment now (I moved back in to this Investment Property this year).All of my relatives that lived in Brooklyn but moved out, either never bought or had bought but sold a long time ago..... cannot any longer afford to buy in Brooklyn anymore.Even renting has become incredibly expensive.As another example of this phenomenon, I had a friend, Steve, who lived in Manhattan.We both invested similarly in to two different properties in 2004.I invested in a 4 Unit property with a Purchase Price of $800k in Brooklyn.