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When you rent you will have time without tenants. You then have to pay not only the mortgage BUT also the HOA fees. That sounds like bad investment material to me. Your down months should not be that punishing to you.
It's all about what you pay for the unit, the desirability of the area, and the fees associatey with the complex. Our recommendation is to try to get a little further south where vacationers feel the comfort of warmer temperatures.
If you are interested in taking advantage of the distressed sales market, we would be happy to support your interests.
Bill Eckler Michael Saunders & Company