Buying a Rental / Vacation Home

[Justin Escajeda]

Hello everyone, for the last year and a half I have been deeply considering and researching purchasing a vacation home. When I say that I mean, I want to buy a property and be able to visit there once in awhile, but for the most part, have it rented out the rest of the year. More specifically, I have been looking into the Outer Banks, NC. I feel that going with a condo would most likely be better for an owner living 300 miles away, but the condo association fees are expensive. I am very on the fence about this because I am not only considering returns and costs, there is a bit of emotion involved in my decision because I actually want to vacation there as well (and I have been going there all my life). Does anyone have any experience with this? Or have any tips on what to look out for? Thanks again everyone, this community rocks!