Thinking about St. Croix, USVI

[Tom Albares]

My wife are thinking about investing in a vacation rental in St. Croix. The USVI gives us a chance for a normal loan with 20% down. The prices aren't too bad, but HOAs in condos are through the roof - $600 to $800 per month. And it would require local property management. It looks like a reasonable price/night would be around $150. But it only looks like a 50% vacancy rate. So possible income is $27,000 per year. So if the condo is $95000, total payment including HOA is $1240/mo of $14880 per year. Property management would cost around $2700 per year. So possible profit of $9420/year. Any opinions or knowledge of the area? Thanks.

[Michael Lewis]

I am also looking into USVI but am looking into a stand alone single family residence as I hate HOA