The short-term rental space has exploded and turned into a formidable industry. Many successful owners are getting cash-on-cash returns in excess of 20%. At the same time, some markets have gotten over saturated, especially with two-to-three-bedroom dwellings. In the luxury end of the market, by contrast, there’s way less competition and many different uses for the properties like golf buddy outings, high-end bachelorette parties, to multi-generation family reunions and other uses. Lance Pederson, CEO at Parsons Villas, has started a fund to acquire high-end, luxury short-term rentals in Scottsdale/Paradise Valley which will result in great returns for investors.