Vacation home + STR in SW FLorida

[Andrei Zharov]

Hey fellow BiggerPocket investors! I would appreciate your help identifying the best short-term rental property acquisition strategy in southwest Florida. I am particularly interested in properties located within 1 hour of Southwest Florida International Airport and within 30 mins walking distance to the beach. Ideally, the property should have a private pool and no HOA. The areas that I am considering are Cape Coral, Fort Myers, Bonita Springs, Naples Park, and Marco Island. However, I am open to any other suggestions that you may have.

I would also like to know if it is safe to buy a home that has been refurbished from the hurricane. Or, would it be better to buy a rehab property and connect with local contractors to restore the house from the damage?

My budget is between $600K and $1M. I will be traveling to Fort Myers in mid-April to see the houses. I should also mention that I am not handy regarding property condition assessment and the local cost of repairs (everything is expensive in Mass, but I've heard in Florida it costs much less). So, I would like to know how much it would cost to repair one of those houses with drywall cut off from the walls after flood damage.

My goal is to use the property as a vacation house and use short-term rentals to help it pay for itself. Any advice or suggestions you can provide would be greatly appreciated.