Good afternoon Bigger Pockets folks,
My wife and I are Realtors in Georgia and we've been kicking around the possibility of picking up our first STR. We ran across a very small cabin (450 sq ft) the would obviously just sleep 2. This cabin is situated inside of a resort community comprised of RVs and other small cabins. Most of the RVs are permanently parked there. I'm having a difficult time evaluating if this cabin is a viable investment for STR. It is currently listed for $125,000. Property taxes are just $181 a year and the HOA fees are about $80 per month. This gives access to clubhouse, pools, tennis courts, etc. Looking at the free data on AirDNA, it shows a 74% occupancy rate for the entire town but I don't know if that translates to this particular property. There is another cabin in that same resort community that is comparable in terms of condition and is slightly larger renting for about $100 per night on average.
What questions should I be asking myself? What factors am I not thinking of that I should be?
