Focusing on the area's that are dependent on tourism is a genius idea.

Now, I embrace them a little more, but the lack of clarity on scheduling and consistency is agonizing.  

@Russell Brazil I can't speak for Vegas much since I'm not there anymore, I find it likely that it'll be a highly volatile market since it's main source of income (tourism) has basically been turned off.

There's tremendous growth and it's becoming a really popular area - especially for investors - due to people moving in trying to get out of Orlando and all the crowds, the fact that is easily accessible by several freeway systems and of course, for the tourism business due to it's proximity to Disney.Almost every community has a generous mix of permanent and short term (vacation rental) residents. 

But other investors will get screwed when municipalities write laws in ways that prevent transferring permits, or that outlaw STRs altogether- Vacation markets will tend to be more STR-friendly on average due to the income they bring to areas that depend on tourism.

In March Chris Ward headlined the San Diego Tourism Authority's annual meeting, a free event at the Dream Theater at Sea World that was fully catered with alcohol and had porcupines and other animals being brought out at the cocktail party following the ceremony.

Once you embrace the fact that you do not need guidance to make it, you will be surprised how strong and resilient you truly are!

To add: you have a historically strong and consistent tourism presence, limited land/STR allowable areas, highly liquid property compared to selling a cabin in the woods, all 9 classes of visitors in the STR sector, and appreciation.  

But given my low capital and interest in having lower risk for starting my portfolio, I’m leaning towards the condotels in high tourism areas through rental arbitrage until I build my assets more.

With Waco’s tourism growth thanks to Magnolia Market, how do short-term rentals affect the local RE market?