Is Sanibel condo investing worthwhile?

[Marcos Izquierdo]

My wife and are looking for a property in Florida that can make a little cash over the years, and that we can an enjoy once or twice a year. We looked around Florida and really liked Sanibel. After jumping through a lot of hoops and gathering a lot of information, it seems like the management fees are crazy high. 40-50% in addition to the HOAs.

Is this a Sanibel thing or a Florida thing? Or just a condo unit thing?