Tourism is great for appreciation, but Midwest markets often give more steady year-round returns and affordability, which is why a lot of investors balance both.Are you planning to self-manage or lean on a local property manager?

A few things I’ve seen work in today’s market:Focus on cash flow-friendly markets: Look outside major metros where STR regulations are strict, and pick areas with high occupancy rates and strong tourism or business travel demand.Leverage property management: Either in-house or through specialized STR management companies, this is key to scaling without burning out.Buy undervalued or off-market properties: You can still find deals where the numbers work even in competitive markets.Know the regulations: City rules and HOA restrictions are critical.

Also, how do you factor or account for an area/town that experiences lots of seasonal tourism, compared to the town that does not? 

@Chris SeveneyFor this company, there has always been open communication Josh Dorcan said when he left Brandon embrace David David embraced Rob.

The Governor supports tourism, but many localities do not.

@Vivan BhallaVivan, Marquette’s a cool market for sure—college town, tourism, and not crazy entry prices.

Operators apply discipline upfront:Demand Data: Use AirDNA, STR Insights, and local tourism reports before buying.Regulatory Scan: Research STR ordinances, permitting requirements, and enforcement history.Market Drivers: Prioritize locations with multiple demand anchors (beaches + convention centers, national parks + breweries).Seasonality Planning: Build cash reserves to cover off-season gaps or pivot into mid-term rentals.System: Location Scorecard — A 10-point checklist grading regulations, demand diversity, seasonality, tourism growth, and nightly rate comps before acquisition.

I live and work in Key West, FL, where I’ve spent nearly 20 years in the tourism and hospitality industry.

So depending on if there is winter tourism in your area or not, you may want to do a hybrid STR/MTR. 

The how can vary wildly but the general picture is the same; embrace natural advantageous and utilize them effectively, mitigate the weak points, appreciation to empower pyramiding, pyramiding to achieve infinite returns, infinite returns to grow assets under control, grow assets under control to achieve level of assets to then "flip the switch" too debt paydown via OPM, to achieve and end of certain level of passive income debt free.