Beach Rentals in Alabama Gulf Coast - Advice

[Richard McGuire]

Good morning,

I am considering investing in beach rental property.  The minimal goal would be to break even on monthly expenses and have a place to retire to one day.  If it can turn a profit even better.  This is a very recent idea/opportunity and I am deciding whether it is worth my time to go further.  Consider me an ignorant novice in real estate investment.  There is nothing you can tell me I already know.  Here are the details I know so far:

Asking price 295k

Mortgage would be around 1k a month plus taxes and insurance (have not gotten far enough to get those details)

Rentals for like properties average 2500 a week during the summer

I don't know what the snowbird rentals go for.

The property is ground floor and on the beach so it should be marketable to both summer and winter guests.  

Current use would be personal for 3 weeks out of the year and rental the remaining weeks.

I don't know what additional information you might need to provide input.  I was just hoping for general thoughts.  Are these headaches to manage?  Are they money pits and run away?  I welcome any and all feedback.

Thank you!