First investment home - nervous

[Della Lambert]

Hello all, I am looking at purchasing a home for investment for $153,900 in a resort town. I would like to use as vacation rental property. Looking at similar properties in the area, I think I can rent it for  $150-225 per night, $850-1000 per week, or $ 1500 per month in slow season (Nov - May) and up to $350 per night, 1600 week and 3500 per month in the peak season (June-Oct). Most vacation homes are booked in the peak season but only 25% booked in off season.  I can 20% down and 30 yr fixed rate at 3.75.  Taxes are approx $3600 a year. Home is in good repair and move in ready. Will have to furnish it. I can charge cleaning fee so this should be a wash. What else should I consider? This is a big math word problem for me and I would like feedback. Thank you in advance.

[Della Lambert]

Thanks for your reply, Monika! I will check out your link. I have family near the rental so it is not inconvenient and I will be there regularly to keep an eye on it. I will need to have the yard cared for in summer and will need to add that cost.,

Thank you Juan for your reply. Other VRBO are going from $125 night for 2 bedroom condo to $350 for  a similar set up. I think I will fall in the middle. I want to get it rented through the winter, slower time, so will start on lower end. I will update after the new year. Will likely not be ready until Jan. Excited! Thank you for the encouragement!