Personally, we think it's a good area for a vacation unit (we have family and friends close to there, as well as ourselves) - close to the beaches, but away from the traffic.
If you are talking about an investment property that rents year round, we can look at the numbers with you and see if it can work for you - you'll most likely be carrying it each month depending on % down, etc, however, whether that is an issue or not depends on your goals. Are you looking to purchase it for yourself in the long haul, and just want help carrying it for a few years? Or are you strictly an investor looking for deals with positive cash flow. Or are you carrying assuming you'll gain appreciation over a certain time period? As for a seasonal rental, it's not a location that would be a hi-rate seasonal rental because it is not directly accessing water or walking distance to such amenities.
If you would like to discuss further to bounce some ideas around, we're here at 302-740-5872 - we're investors too and have worked with many investors. It's a good time to look at that second home or investment properties with the market conditions - you're on the right track.
John & Mary Luca