However, there are some challenges to keep in mind:Regulatory Variations: Regulations can vary widely between locations and are constantly evolving.Active Management: STRs require more hands-on management for guest turnover and communication.Additional Costs: Don’t forget about expenses for furnishings, cleaning, and possibly hiring a property manager.If you’re looking for STR-friendly areas, consider these locations, as others can be too expensive to consider, such as Snowmass Village or Aspen:Breckenridge: The most visited ski resort in North America, attracting around 3 million tourists each year.Steamboat Springs: A popular year-round destination for winter sports and summer activities.Keystone: Great for those wanting a less crowded resort experience.Divide & Florissant: Charming mountain towns close to Colorado Springs.Fairplay: Just 30 minutes south of Breckenridge, with an impressive 82% Airbnb occupancy rate.Cripple Creek: A former mining town now known for casinos and outdoor activities.Park County: Very Airbnb-friendly, though regulations may change.Here are some strategies to help you succeed in the STR market:Hybrid Model: Consider using some units for STRs and others for long-term rentals to balance income.Research Local Regulations: Always check the current rules in your target areas before investing.Year-Round Appeal: Focus on locations that attract visitors in all seasons.Quality Furnishings: Invest in quality to justify higher nightly rates and attract better guests.Dynamic Pricing: Use pricing strategies to maximize revenue during peak seasons while maintaining occupancy in the off-season.Stay Flexible: Be ready to adapt your strategy as the market and regulations change.While Colorado’s STR market offers exciting opportunities, it’s essential to approach it strategically.

:D I have a little verse I adapted from a sunday school song, "Red and Yellow, Black or White, money's green in my sight."

Its outdated as if only the rich can afford and no firms have adapted. 

My second is not the ideal and best choice but doable with the type of area you work with which is self installation.New hot water tanks are about $400-$900 depending on the need for the client plus any pipe adapters for the tank if needed as well as paste or tape for sealing the utility pipes. the package include instruction about installation which was not bad out of a 5 point scale of difficulties i give it a 2.5 or 3.

By stepping it up gradually, we are giving here the chance to either adapt, or have plenty of time to find other arrangements.  

My approach is one of careful research, strategic planning, and a willingness to adapt as I grow in this exciting new chapter of my life.

Several states are cracking down on wholesaling and making it harder to do without a license, so adapt and get one.

i agree with robert not all landlords are alike.but one thing we all have in common we bought are buildings on tenants paying rent.if does not matter if one unit or 1000.we all counted on that tenant paying rent.so do wantever helps you do it in collecting rent.i have found now will most tenants i will talked to most have their april rents ,and will probably have may rent will stimulas check.so start building up a cash reserve,put all major  remodeling  on hold.just fix what you must.your job now is to babysit your tenants ,try to get them to realize them stimulas check has to last along with those unemployment checks.i know none of you have signed up for this,but you have to adapt,or you will be one of the landlords that will go out of business.i seen many in 2008 ,that will stubborn in their ways and it hurt them.i was one for a liitle while then too.but you will learn without threat of eviction certain tenants our going to think they do not have to pay.your best chance is tell them work with you now to evoid eviction later.some will work out,and some not.but that is just like when you pick a tenant,you really do not know to 3 months later,if you got lucky and picked a great tenant.

We can adapt and overcome these issues.

I've personally seen a massive difference in the happiness levels of people who spend less than they make according to a budget in line with their values and goals, in contrast with people who don't track their expenses and never think about things like lifestyle creep and hedonic adaption.