STR in Tampa bay area financial feasibility analysis

[Lana Klimt]

Looking for insight regarding short term rentals in the Tampa bay area close to the beach or SFH/condos within 10-15 minutes drive. It seems that most vacation condos close to the beach are overpriced currently and barely break even considering purchase price and booking rates you can charge and competition from the hotels.

Wonder if I should consider other locations or am I missing some creative solutions. 

If you have some thoughts you do not mind sharing please post here. 

[Kendra Star]

There are ways to make money in this market and it depends on what your goals and budget are. It is a market that is very saturated. I spent a lot of time researching this area and ultimately we bought a house 1.3 miles from the beach. It is very very difficult to make any money with a condo on the beach with the high condo fees and high prices. There are also a lot of restrictions in the different towns in that area so doing research for your desired market is important. We ultimately chose to purchase in the area because we like the area and plan to vacation here occasionally ourselves. We are expecting to make a modest profit over the next few years.