Florida insurance rates are through the roof so that that into account.You might want to consider the Myrtle Beach area which is very popular for tourists.

First of all, the venue rocked.

Consider theming your property based on popular attractions in the area, aligning with what guests are doing when they vacation.

You could probably find a nice 10 unit apt building in Kalihi or Waianae for cheap but you'll need to hire security.There are whole lot new project anticipating moving into that direction, such as building higher/stronger seawall.Folks that visited regularly notice would notice there would be much more lava big rock stone allocated in front of the beach.

@Chad Rocke thanks for the shout out!

You are going to have to spray foam it to keep it from sweating inside and you are still going to need to have studs even if only a 2x2 to have somewhere to hang rock. 

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I lived there myself for 4 years, then moved out and converted it to a super-profitable short-term rental (it's ideally situated near great restaurants/nightlife, the National Zoo, Rock Creek Park, and hotels that host professional conferences).

Walkable town centers have become very popular, even in suburban communities as well.

@Steve Cheslock wine storage is a popular niche among self storage facilities here in the Carolinas.