Pensacola Vacation Rentals

[Amber Collins]

Hello BP,

My mother and I want to do a vacation rental property in Pensacola FL, I've figured out I want "tiny" houses on a waterfront lot (inland on canals). My mom is dead set on Pensacola because its just far away enough from her mother in law. I will own the property and she will be the live in property manager full time. I don't know what I don't know- what should I be considering?

Obviously its got to be the right lot- there is a half commercial, half residential lot on a canal I am considering. But I have never done new construction- with the tiny houses I just need a foundation poured with plumbing and electric. The houses are basically prefab.

What should I budget for the lot preparation?

If .4 acres of 1.6 is commercial, how hard is it to make 1 acre commercial and .6 acres residential?

I have budgeted for 65% occupancy- so if not 1 single guest comes for 4 months, we will be just fine. What are the slow months? Hurricane season I am assuming but Pensacola is great for nature lovers, people wanting to see the Blue Angels etc. all year round.

We will get all our lodging permits- how hard is it to do?

What are cheap amenities that have upped the value of your vacation rental?

Any thing else?

Thanks!