But I do know that people often spend thousands on a beach house for the week, and depending on its proximity to the water, will pay even more. 

It will be self managed, I will be near the unit (less than 5 mins away) to clean and take care of any issues.My numbers:Approx Value of Home $240-280kCurrent monthly cost / $860 mo (mortg,ins,tax)Utilities / $250. mo (elec,gas,water,trash,internet)Cost to run as AirbnbApprox monthly cost with STR insurance ($250/mo?)

On top of that, families have privacy, places to eat together and gather, plus entertainment options right in the home (pools and game rooms). 

Also, desirable amenities (pools, fitness centers, clubhouses) enhance the functionality of a community.

Utilities are costing me around 450/mo plus another 400/mo for pool and garden maintenance.

The syndication scenario is viable of course but I will say....I dont know whom I know that would invest or have money so Id need to go to new waters. 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

The watering hole!

Full rehab of the home to include new primary and secondary bathrooms, installation of new island and coffee nook with granite countertops, new water resistant LVP floors throughout, new paint, crown moulding in living room & kitchen, new electric water heater, and conversion of coat closet to mud room.

Same thing here in Florida with all the rich guys wanting a million dollar house on the water with the hurricanes.