There are definitely downsides to each destination.Friends of ours, boat builders and lifetime sailors, actually went into the British Virgin Islands post hurricane and bought up damaged boats that they're fixing with a goal of launching their own charter company (which is a similar model to vacation rentals).

Which created historical financials that made commercial financing pretty much impossible. 

It's a historic house and I turned it into a multifamily, got the rehabilitation certified by the NPS so I got a bunch of tax credits, and it's been a cash flow cow for the last two years.

Does anyone have any solid insight into the historic gas plant district redevelopment of the Tropicana area?

To add: you have a historically strong and consistent tourism presence, limited land/STR allowable areas, highly liquid property compared to selling a cabin in the woods, all 9 classes of visitors in the STR sector, and appreciation.  

I question if their intent is to pander to constituents to get votes rather than make decisions in their constituents best interests.Here is some predictions: 1) rent for existing tenants will go up max allowed increase 2) rents for turned over units will go up far higher than the historical average.  

The biggest cost challenges with them is keeping them "historical".

Newer ones (2008+) are suffering from seasonality now but will pick it up in Q3-Q4: if you look at historical data, Miami Dade county has always had seasonality low volumes during summer time, due to hurricane season, holidays and less tourists visiting. 

In addition to being a long-term real estate investor I have been a commercial/res appraiser, historic property renovator/contractor, property mgr and more so I don’t mind properties with issues as long as they are fixable and priced accordingly, and my investments are all about the numbers (NOI/Equity).

It's not really that surprising as the big banks have historically not been where these are financed.