Looking at a property in a tourist/STR destination.

Bigger Cities that aren't 100% dependent on tourist could enact laws that would hurt your returns. 

It's also 1 hour from Vegas... and you obviously have no clue that its a tourist capital.

I have lived in a few different places (which all happened to be tourist destinations as well) over my lifetime and have always thought it would be amazing to invest into the places I've lived in and know as I grow over the years. 

If your market is like my market, 6 months of gross rent should be greater than the purchase price of the house.Forget about tourists.

._________________________________________________________________________________________________- 6.5 million tourists spent $4.77 billion in Baldwin County last year, sustaining 51,636 jobs and generating $938 million in taxable retail sales plus $527 million in taxable lodging sales.

I’d def pick a tourist town in the south, there’s lots of them.

It's next to a tourist attraction and we are thinking about building some small cabins to rent out during the vacation season which would be about three quarters out of the year.

The plot is around 26000 sf, beachfront, great tourist locationThe build quality is high, and it survived the tsunami of 2004 intactThe place is fully staffed with a manager who's been there for 19 years, with no intention of leavingThe place is one of the few in the area that holds groups (the whole complex is rented out to groups of 12-23)It is currently earning 100k eur per annum with only 50% occupancy (the owner is older and does minimum to market - old website, airbnb, booking.com, homeaway, tripadvisor)The average occupancy of the area is 74% so there is a lot of room for revenue growthThe rates haven't been raised for 3 years and it is due for a 5% rental increaseThe reviews are stellar on all sites, with many repeat clientsThe venue is ideal for weddings, reunions, parties, bdays, etc, and the staff handle everything, including an on site chefWhen you stay there it's like having your own resort on the beach to yourselfOwner will act as consultant for up to 1 year for freeSo, he wants to sell to my husband and I, as his manager and he really like us and know we would keep the staff and concept the same.

Perspective: the CDC estimates that 12,000 people die in the US every year from the common flue.A few years ago my wife was concerned about vacationing in Mexico, because a tourist was murdered in Mexico - we looked up homicide rate in the Quinatana Roo province and after comparing it with Milwaukee, we decided going on vacation was the safer thing to do.The housing market is driven long term buy supply and demand - everything else is just noise and has only temporary influence.