Eventually a nice vacation rental on the water that we can also use for short term rentals.

Short-short version it's hell on wheels. 

This seems unlikely in the long run. you are forgetting that someone is paying down your principal for you so you need to take that into consideration. 

It'll be confusing in the short term, I think people assume it's inflationary.

I personally don’t want to be in the BUSINESS of running a consumer service.  

@Brandon Elliott-Pandey So far after running all the numbers as is and with a property manager at 10% I would profit $270/month

We also run a property management company, so we can assist not only with acquisitions but also with long-term rental strategies if you plan to hold properties.We’ve helped many investors identify profitable areas and would be happy to share insights on the best markets for your goals.

The short answer is yes, but it's much harder.

For this post, the long story short is that no cats were on the application but lo and behold, there are 4 cats in the house during my first inspection.

It's definitely tricky because you want to be considerate and you are also running a business.