1st-time buyer, have found a vacation rental. Thoughts?

[Brice Naylor]

Details:

- Floating house on Lake Norris, TN, $35k purchase price
- $210/month mooring fee for the marina

- Comparable rental units range from $100/night to $400/night in peak time (June - Early September)

From what I've seen, this should have, on the low end, $9k/year in revenue, and the payments per year should not be more than $7,500 (and that is with a 10-year loan and allowing another $300 per month average for expenses, including the mooring fee).  Seems to me that it should at least break even.  Thoughts?