If you go close to Canada or maybe the northern VT border you will find those kinds of numbers but not in a nice tourist area like you are in.I will say that $200K sounds a little high, $180K is more in the ballpark with those rents.  

The guys that I know in that situation spend a fair amount of their time traveling so they don't make a daily commute.Most jobs out here are service/tourist related, Marriott is now considered the premier employer.

These resorts are located in a popular tourist destination.

I don't do that well with preplanned tourist stuff like Disney World.

But we are all about 5-10 minutes from the bay and about 25-30 to the ocean and great tourist attractions.

The great things about O.C. specifically are:Very low unemployment rate (4-5%)Broad based economyHigh average household incomes (means qualified buyers/tenants)High demand for properties (helps drive up appreciation)Perfect year round weather (draws tourists all year)The ocean!

Remember you don't have to own a property to control it.A buddy bought an old Victorian with a bunch of bedrooms in a tourist area there, rents it out to them for $200 a night per bed HUGE cashflow.Paul

Consider converting one or more of the long term rentals (4 -1/1 units) into nightly rentals (tourist market, and the units are located between the post office, the rv campground, and across from a hotel.) 2.

Currently, rather than focus on how to leverage what I believe is the inevitable legalization, much of the emphasis from community and civic leaders is on developing the tourist industry, while trying to bring in light-medium industry and better utilize the harbor.

What's great about Malta is that you have different kind of tourists all year round.