I bought my first primary back in 2019 and converted it into a rental last year May 2023.

We did get negotiate money from them to help with roof repair, but now know they were not honest on their disclosure.Our inspector missed code violations, HVAC issues, pipes that had been worked on and issues hidden that had occurred while sellers lived in the house, signs of drainage and water damage inside the house that had been painted over, completely blocked dryer vent...and we are finding more daily.We have had the house looked at by a structural engineer and HVAC techs that has told us we need thousands (likely tens of thousands) of dollars worth of repairs to make this property able to rent and come up to code for rental. 

Use this to your advantage by identifying potential investment properties, such as undervalued homes or areas with strong rental demand.Start with a Clear Strategy: Whether you're interested in flipping properties, buy-and-hold, or rental properties, having a clear strategy will help guide your decisions and keep you focused.

For those who’ve purchased their first vacation rental in the Destin or Panama City Beach area (or surrounding areas, too), what’s one thing you wish you’d known beforehand?

I would make sure your rental works as long term.

REI Nation manages 7,964 single-family rental homes in 13 U.S. markets, including Memphis, Dallas, Houston, Little Rock, Oklahoma City, and Birmingham. 

The short term rental piece is very intriguing.  

I see that there are many people looking for rentals but can't contact them unless I pay a fee.If pay the fee option, what is your experience with it?

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

So condo's can be a good deal if they are in an area that has a lot of vacation rentals and the municipality is all about tourism and space for visitors to stay.The biggest issue is the HOA.