Selling long term rentals to acquire a short term vacation rental.

[Levi Crawford]

My family and I love going to Florida off Highway 30A and have been dreaming of owning a place here for years. I am considering selling my rentals in Arkansas to be able to buy a vacation rental where we love to go so much. I have zero experience with short term rentals or buying beach properties. Any help/advice would be GREATLY APPRECIATED. 
I don’t need this property to cash flow however this is a lot larger investment than I am use to and would have to have it paying for itself or very close to it. Again any and all help, advice, real world numbers, experiences, anything would be appreciated!

[Scott E.]

Levi - You made it very clear in your original post that you don't need this property to cash flow and that you are looking to buy a home for your family to enjoy, where the short term rental income offsets some/all of the overhead.

You have a lot to learn about short term rental investing, but the other posters missed your point here.

A short term rental is a fantastic option for doing exactly what you are seeking to do.

I recommend you spend the next couple of months here on the forums to learn as much as you can. There is a section here dedicated to short term rentals that is LOADED with great information (look to the left of your browser, the section is titled "Short-Term & Vacation Rental Discussions"

You'll learn pretty quick that by getting into the STR game you are getting into the hospitality business. Very different than being a LTR landlord. But if you hire a property manager it can be pretty passive (never 100% passive, but close).