Caribbean Rental Property
So I found a property in the Caribbean (this island isn't in the hurricane's path) that I (initially) thought was an excellent deal. It's a two bedroom, two bath apartment that's part of a resort in an exclusive area. The resort no longer operates as a hotel and they've sold the individual units and the compound is run by a management company. The grounds are in great condition. The price is $130K and vacation rentals in that region go for about $100 per night.
Upon asking the local agent for more info I found out that the monthly HOA is $800 USD per month (and $1,000 per year for insurance). That seems pretty steep to me.
My question: even if the monthly income covered P&I and the HOA fees, will it be worth it financially? My goal is to own a vacation home that my family can use when we see fit and rent it out otherwise on AirBnB (and possibly generate cash flow as well). FYI - I do have someone trustworthy that lives over there that can "keep an eye" on things for me.