Melbourne Beach waterfront house

[Natalia Comas]

Hello everybody. I am from Miami, living in an apartment and considering buying a house. We would like direct oceanfront house with beach, and the closest place with a house for less than 1 million is Melbourne Beach, at least according to my search.

What do I need to know before I decide to buy a house in Melbourne Beach? Any tips?

How about flooding? 

How is the tourism, renting ability of the place?

Can anybody advise me if there is other places closer to Miami?

Thank you very much for all answers

Natalia