Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction 2.

Ultimately, If I were you with a deal like that, I will schedule an appointment and if you act like someone who is going own that property, You never know - "The gods of attraction" may just be in your favor.

My ultimate goal with this possible rental would be to utilize the profit to purchase a few more short term rentals (not necessarily on the island) and then diversify into long term rentals as well.

@Blake Lawrence, the tools will adjust your price up/down according to demand, special events and etc... but ultimately your base rate is what sets the tool.I used Wheelhouse & Beyond Pricing at the same time,  setting the same base rate( i have 2 houses on the same st that are the same size and rent for about the same ) , there was no notable difference on how their pricing adjustments worked, I did notice that Beyond Pricing was a little more aggressive raising and lower rates, but that can easily be replicated on wheelhouse if it is a strategy you want to follow.Beyond Pricing has the advantage of being the preferred Homeaway partner.Good luck

Ultimate goal is to have other sources of income gradually.Thanks for any tips...

I ultimately decided to stick to an area I know better and is closer to home.PM me.

The economics are exciting, but RV pads should be underwritten differently to account for increased vacancy, turn expense, and ultimately, a higher cap rate.

Certainly STRs would survive them, but I am not certain that we don't see some major shifting in this industry straight ahead.

Would love to hear more about what you have in mind for this transaction and what your ultimate goals are.

I’d ultimately like to invest.As I’m just starting out, I see a lot of options to get started as an investor.