condo hotels in Florida

[Tom Fontaine]

Anyone have feedback on purchasing condo hotels in Florida and upsides and downsides to them?  I am looking around Daytona Beach Atlantic side or the Gulf Side.  I am a first time investor and familiar with these areas and want a place that I can rent out when not needed and use when my family vacations, hence why I chose these areas.  I want to rent them on airbnb or VRBO but being told several things:

1.  Its apparent that most of these rent them themselves through the building management company and take 50-54% of the rents.

2.  I'm told most mortgage companies won't lend for these types of buildings.

Any feedback on this or other considerations?  Due to price, I'm thinking I will need to look at condos instead of single family.

Thanks!