Cap Rates on Vacation Rental Properties?
This might be a dumb question (I'm a new to this). Do vacation rentals use cap rates for valuation? I'm looking at a property in Destin, FL and I'm trying to determine an average cap rate for a condo located on the beach. The agent I'm using there gave me a confusing answer making me think that it was a dumb question. If not a dumb question, does anyone have a good answer for me? Thanks in advance for your assistance.