Advice/thoughts on long term renting a lake house?
We have a nearby lake that is running out of room. Lots are quite expensive, usually around $200k if you can find them. I am confident that as time progresses, these lake properties will continue to appreciate.
With that said, an interesting property popped up for around $270k. A lake property with a 4 bed 1600 SF manufactured home on it. This seems like a great deal... but yes it is a manufactured home. Im trying to determine what I could charge for rent. There are no active for rent listings around the lake to compare. If this was not on the lake, I think it would get about 1,200/month. Would it be reasonable to estimste 2k/month since it is on the lake with no other available rentals on the lake? Is there some liability issues with renting a lake house I should worry about? The priperty has a pier but not a boat house.