I agree with Steve, the purchase price has to be right for starters. However, proper marketing for your rental property is crucial! Even a low priced property will not cash flow if not managed properly. Conversely, a higher priced property can cash flow provided it is well maintained, priced correctly at the various times of our cyclical rental season and gets proper exposure in the market. Many property owners do a great job of this themselves. Unless you have the time and expertise, though, it's better to hire a rental management company. When shopping for real estate, you should be able to obtain rental history or an approximate rental potential based on location, amenities and upkeep. Of course, the best aspect is the long term investment you'll be making in relatively low priced resort property!

Catherine,

It is possible to have a rental pay for itself if it is bought at the right price and managed correctly.

The system that they are using does not readily make that info available. If you are looking at specific properties, let me know and I can try to get that info for you.

Steve Tennison