OBX investors, what are your experiences/insight/tips?

[Angelo Pompeo]

I have a friend who is invested in OBX and his returns are just outstanding (assuming he's not exaggerating!). We also have two family friends that do it and they seem ok too. None of them really expands out there though, which is why I'm confused - if it's so good, why not go further? Maybe they're just not looking to get that far into REI? Maybe their experiences aren't as good as they're letting on?

Anyways, I'm particularly interested in (in no particular order):

What makes an area in OBX better than another, is beach front crucial or is beach view ok too? Or do they just need beach access. 

What type of fees are you looking at per month for cleaning, mortgage and flood insurance, garbage, water/electricity, etc? Any hidden fee's I wasn't thinking about? 

Is something wrong with the tool or are bathrooms that important out there? You'd think more bedrooms would be big but the rental difference between a 5bed/5bath and 5bed/7bath seems disproportionate, unless there's other factors I'm just missing. 

How tough is it to find tenants during off season? 

Are most using VRBO to find tenants?

Any other insights would be greatly welcome. The high turn over rate looks very appealing even relative to multi-family in some other areas. 

Thanks in advance!