Considering vacation rental investment

[Frank Apap]

Hi, wanted some high level advice / thoughts.  My brother and I both have good day jobs and also run a profitable website as a side business (total business profit of 60-80k a year).  Aside from our stocks, 401k, etc we have some extra money to invest and were considering a vacation / rental property to diversify a little.  The property we are looking at is around 230k in the Poconos (PA).

A few general questions:

1) Anyone have experience with Pocono vacation rentals?  What type of occupancy have you seen?

2) Is the idea of running a vacation home from afar (about 2 hour drive) nuts?   (Vacation rentals are really possible where we live).

3) Our website is run under an LLC and is profitable. Could the LLC buy the property?

4) Any other tips or advice is welcomed.

Thanks!

[Julie McCoy]

I'm only really qualified to answer question 2: I run a VR from 200 miles away and another one from 2000 miles away.  Not nuts, definitely possible, just need a good team (housekeeper, handyman) on the ground.