Miami - Cashflowing STR

[Neil G.]

Hey Miami folks! Is it possible to find a turnkey (or near turnkey) short term rental property that cashflows (with a mortgage) in a walkable/desirable area of Miami? I want to use the property for 4-8 weeks per year and then rent it out while I'm away. I am willing to invest up to $80K if the place is at least able to break even (I increase the vacancy rate to accommodate my stays). 

For my personal use, I'd prefer a centrally located area that is walkable and exciting. I've been looking intensively in Tampa, but there's practically no inventory in neighborhoods that work here.

I am considering listing a potential unit on Furnished Finders, which has an average length of stay of 90 days. AirBnB/VRBO is also an option. 

Any Miami neighborhood recommendations or business model tips? Thank you!

[Neil G.]

@Jim Blackburn how's the market for 400k condos? I saw that some values have actually gone down over the oast few years. Is there an oversupply?