Vacation rental

[Mark Puen]

Aloha all, I'm new to real estate investing. Had a question for anyone that does vacation rentals. I have the opportunity to purchase a already established vacation rental where I reside in Hawaii. Last year's gross for the vacation rental was $35k. Current owner manages it through VRBO and the currently owner lives off island. The vacation rental has 1 reliable person who does the cleaning and up keep of the property. What questions should I be asking the current owner? I've asked for a P&L statement. The home was made in 2006. The home is a 1 bedroom cottage. On a 1/2 acre. Asking price is $250k Can anyone give me some advise on how I should go forward on this and if this sounds like a good deal? Any help would be appreciated! Mahalo! Mark