Looking to buy a condo to STR in Cape Coral / Fort Myers

[David Lemont]

I’m trying to find a condo to start short term renting in the Cape Coral / Fort Myers area but the problem I’m running into is all the condos I’ve seen have a 30-Day minimum stay requirement. Does anyone know of any condo associations that are doing 7-day minimum stay? 

Thanks for your help!

David 

[David Lemont]

Thank you for your reply. 

I agree that the SFH is a better option. The problem we've run into is our price-point is about $350K and it's hard to find a pool home at that price. With non-pool homes, it's going to be hard to find occupancy to short-term rent.

We did find a SFH with a pool at a great price but we found flood insurance was way higher than what we anticipated. We decided to start looking at condos because flood insurance could be included in the HOA costs.

If SFH is the only option, is there anything within the Cape Coral / Ft Myers area at our price-point that we could purchase and have a decent return on? We have about $135K cash to work with for down-payment, closing costs, and reserves.

Thank you all for your help! 

David