help me get some perspective on STR

[Maggie Bloodworth]

I'm looking at a condo for 325K with a gross income of 45K (airdna says 65K, locals say 45K)

we would use it when my husband travels for work, and try to let renters have priority, we would finance and HOA is 350

It is an 1 1/2 hrs from homebase.  I'm a realtor, but not a seasoned investor.  I'd like a mgt company to run it, 

but not sure about that point yet. 

How should I correctly think about this financially?

[Andrew Steffens]

Are you looking to cashflow or breakeven? I think with management with those numbers it will be tough. 20% down your mortgage will be around $2400. That assumes 20% down and $400 a month for tax and insurance. Add in HOA and utilities and misc costs you are probably at $3500 per month to operate, which is $42000 per year. Management takes 20% usually and you will be using it which will bring down income. You will likely be negative cash flow unless you can increase revenue somehow. For some people this is OK since they will get use, future appreciation and a likely refinance in a few years. I just want you to have proper expectations.