Investment Info:Large multi-family (5+ units) buy & hold investment. 10+ unit in Cincinnati near the outdoor Kenwood mall.

A temperate climate enhances the season for outdoor sports, including world-class golf, hiking, biking, and fishing.

Rule of thumb for us when using contractors is $1200 a fixture for plumbing (consider the water main a separate fixture, consider the water heater a separate fixture, consider outdoor spigots a half of a fixture, a boiler connection would be half a fixture).

From the get go they were messy, broke/bent rules, late more times with their rent than all of our other tenants combined but we tolerated it.2 months ago, that tenant started a fire with her careless smoking (she was following the rule of outdoor smoking only) and caught the unit on fire and damaged the adjacent unit. 

MAINTENANCEMany maintenance companies are limiting their activities to outdoors.

Account ClosedHi Mike,Early 1900's homes sometimes had plumbing for an outdoor toilet in the back attached to the house, maybe some of that piping is still there and leaking outside.Also there may be an old plumbing extension buried in the yard that's leaking.

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.

As Fort Collins becomes less affordable for the median wage earner, it's an easy commute to there from Loveland and you've also got easy access to some of the best outdoor recreation areas like Rocky Mt.

That means snow close to the roof may melt, but then freeze with the outdoor air.

The unit has a nice Goodman HVAC unit in the basement but does not have the outdoor AC Fan.