And there is no reason you cannot do both, so start it as an STR while the economy is hot and then if the local VR rental market shifts you can always slide it into a long term if you needed to.  

Or is everyone sort of shifting gears to the outer lying towns?

On today’s episode of the BiggerPockets Podcast, we are joined by Arizona real estate investor Tracy Royce to discuss all things related to short sales, getting started, and the best ways to run your real estate investing business.This show has a ton of tips for finding the best way to help sellers who are underwater on their mortgages and still make you a profit as a real estate investor, as well as great strategies for using virtual assistants to lighten your work load and other tips for those who are just getting started.Topics discussed include:-How to get paid to learn about real estate-How to parlay your talents into a job with a real estate investor;-How to “shift” with a changing market and recognize future trends-How to use virtual assistants in your real estate business-Goals: Good, bad, and ugly-Getting started with no money by using technology and social media-What a short sale is and the short sale process-How to find a great short sale agent-Tips for getting your short sale offers acceptedTo listen to the show, click here!

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But after completing the house, the market shifted and you ciukd not sell it, so you decide to turn it into a rental.  

- Did several yellow letters campaigns in an effort to wholesale, but found that the market had shifted, deals were becoming scarce, and you found yourself competing against more seasoned wholesalers who were a lot more savvy than you?

I was looking to shift a lot of my California portfolio to Ohio, but given the results, it may be better for me to stay put.- Gene

Hey Jim,Since I got into real estate about two years ago we have really seen a shift in where we have been working with a lot of our rentals.