Hilton Head Short Term Vacation Rental (Eventual Second Home)
I'm looking to purchase a second home in Hilton Head (preferably Sea Pines Plantation) to be used when I retire in 10 years or so. For now, the property would be rented out full time to help cover the costs. Looking for advice if anybody has done this and how they approached it. Based on the properties I've evaluated, it's hard to find a property that breaks even from a cash flow perspective after all expenses (including property management) with a 30% down payment.
From a pure investment perspective, I would choose to put money elsewhere. However, the desire is to have a second home there. I've only looked in Sea Pines Plantation but maybe there are other parts of the island I should consider if it makes more sense from an investment perspective?