Thinking of buying canal home in Galveston texas for STR

[Kim Gillihan]

I have been considering this for a long time. Buying a vacation property for us to enjoy and renting to help it pay for itself.  I was just looking ( big mistake) and found one I love.. checks all boxes and then some.  Its on a canal.. has 3 bed 2 bath, boat lift, nice deck up top, huge outdoor living, outdoor kitchen etc.   I spoke to a realtor/property management company and the opinion is the house will be more desireable with all it has to offer thus making renting easier etc.  Its more than I started out wanting to spend, but I am willing if it will rent as well as I am thinking it will.  Very nicely decorated, new paint, windows..

We are 1.5 hours from Galveston.  Its listed for around 500k.  Realtor I spoke to thought I can get 50-60 k per year renting... 

I am looking for general advice on renting STR property... great idea, horrible idea.. so exciting and scary at the same time.

thanks so much! KIM