Same thing happening in places like Minneapolis and Madison, WI — heavy regulation but if you can operate legally, you win big because there's less competition and more pricing power.Also love that you called out the steady demand outside of the "Instagram famous" areas.

Like others have said, it's competitive out there, but I have a lot of Airbnb clients in Colorado -- like this guy -- who are still doing well because they created something special.

Not sure how competitive they are for your needs, but both allow the named insured to be a business entity, while other insured interests can be a variety of entities. 

These types of unique attractions tend to hold up better even in a down economy with well-to-do travels coming from far away, even when local more budget conscious folks need to curb their spending.Short of that, like @Michael Baum mentioned, anything in a good market that can set you apart from the competition is always a plus (waterfront, beachfront, etc…) The competition can always keep pace with you by adding a game room, hot tub, etc… But they’re not making more waterfront.Good luck!

Initially, when we went live, I priced it competitively, and it seemed like a good price.

On-market properties are publicly listed- either with an agent or FSBO- and get more exposure, which often leads to more competition and potentially higher prices.

Out-of-State: Nashville is competitive, but neighborhoods like Antioch, Madison, or Donelson may offer solid cash flow with appreciation potential.

We have a 6-bedroom cabin in Wears Valley.Make sure your PM is local to your cabin or there isn't much value Add in my opinion, and you may as well self-manage.Things are very competitive for the PF area, especially now.Someone recommended getting your future pricing in line to capture people looking 3 to 6 months down the road and I agree with them. 

Competition is not  necessarily competition.

I’ve been doing a ton of research, running numbers, and trying to learn as much as possible—but with how competitive things are, it’s been tough to feel confident choosing the right market.