Looking at purchasing a vacation rental on the Gulf Coast somewhere. Would most likely be in March of next year before I purchase, but wanted to start looking at all the numbers to see what to expect and decide if I should go for a condo or a house. I would use the unit mostly as a short-term rental with a property management company running it, and would stay there a couple times throughout the year (in the slower seasons). Wanted to know if anyone here has a property and would be willing to share some of the numbers so that I know exactly what to expect? Thank you in advance!
Most condo communities do not allow for short term and/or vacation rental. You don't want to go sideways with a HOA board on unauthorized use of your unit because those folks carry a very big stick. Before you consider any property for short-term rental, check out the zoning and licensing requirements. As for ROI, vacancy rates, etc., those can be very much market driven. There are some online resources for that information by city that will provide you with that information.