I want to buy a vacation home and rent it

Question

before I get into the market I want to research it what are some good books I could get?

Answer 1

After all of the taxes, income and the cities hotel tax, you would be very lucky to rent it out often enough to make a mortgage payment.   Insurance is also sky high for vacation rentals.

I doubt there is a book, you need to find out the costs, average occupancy rates for the area and just pencil it out.

Answer 2

No book is up to date enough to keep up with the horrible housing market.  I would look around in the area that you want to buy in.  check out home prices and rental prices. Bear in mind that we are in a really bad economic crunch and a lot of people are not going on vacation so you might have a lot of weeks that your house is vacant.  Can you afford to make payments on the home