Branson MO Vacation rental, thoughts on this one?

[Kevin C.]

Established VRBO property in area that caters to that market.

Owners manage the unit long distance. They own 3 vacation rentals in the area and self manage them all. I'm working with a local agent that has this as a pocket listing. Per listing agent, owners are selling this property in order to buyer a larger unit (more bedrooms). Listing agent specializes in vacation rentals and has contacts for cleaning and maintenance personnel. All yard maintenance is included in HOA to include shrubbery / tree trimming, snow removal, mulching etc.

It's a 4 Bed, 3 Bath unit, no garage just a parking slab (common for area), built in 2007, fully furnished, ask in $269.9K.   Walking distance to Table Rock Lake, short drive to all Branson area attractions.

Stated revenues per owners Sched E

2012 - $30K

2013 - $34K

Gross revenues do not include cleaning charges or taxes that are billed directly to guests.

On their Sched E the unit showed a loss of $1,600 in 2013, that's taking into account almost $9K in depreciation and a little over $3K in travel expenses (owners like the area and travel there quite often, writing off their expenses across the three properties they own there).

Any insight on how this looks from those that currently own or manage VRBO's would be appreciated.

Thanks,

Kevin

Edit to add: owners show $10K interest paid for 2013, so this is a financed unit for them.