6 month summer rental condo, Tampa, fl

[Rebecca Peters]

Hello BP!

Over Christmas break, my father proposed an interesting deal to me. He has developed a relationship with the owner (who lives in NY) of a 3/2 condo in Tampa, Florida. Long story short, he said he would be willing to put down the down payment if I took out the mortgage in my name. 

My question for BP is if anybody has ever been successful in doing a 6 month lease in Florida during the summer? 

I have not run any numbers, but I understand that there's a very good chance that this property will not cash flow with only 6 months of income!

Would appreciate any thoughts or comments on this situation. Thank you!

[Doug Merriott]

@Robert Curls is correct. The 6 month lease would be subject to a 12% hotel tax. You can generally charge this to the occupant, however the bigger question is; will the association allow the short term rentals.