Best East Coast Vacation Markets w/ Conducive Regulations?

[Andrew Stein]

Hi all - 

I am looking to buy my first STR in a vacation/destination market on the east coast. I'd like the investment to:

1. be in a market where the regulations are pretty settled at this point (i.e., limited to no long term regulatory risk)

2. produce an 8%+ cap rate. 

Anyone have recommendations?

[Gina Jackson]

@Alexander Knowles  We were not familiar with the Condo-tel differential. Initially we were told ALL condos require 25-30 down payment. However, currently working on 10% down payment because it will be a second home and not a resort Condotel. Also, was not familiar with many Condo Buildings requiring use of their Property Management at an average of 60/40 split... that wasn't going to work for us. We found a property that did not require that. Lastly, allowing dogs was another big road block. 

We are planning to self manage, but looking for a great cleaning company and dependable handy man. Also, planning to do some minor kitchen reno next month so any and all recommendations welcome and appreciated. 

Gina Jackson, Real Estate Agent in Maryland (#5006605), Investor
Brokered by eXp Realty