Pete Beach and Treasure Island heating up, it might be worth tapping into that dormant potential.

I myself have a 1/1 apartment on Davis Islands near the hospital that I'm considering renting to traveling nurses.The problem with rental arbitrage is that you need leverage as the renter to negotiate assignable lease terms with your landlord.

It is on the boarder next tourist areas and the island.

I am also from Long Island too. 

I live on the East Coast and I too am an out of state investor primarily since Long Island is a particularly expensive area as a whole to invest in. 

@Robert Silvernagel Just wanted to give you my 2 cents on using your housecleaner as your On Island Agent.

Like Long Island, Orange County. lol I definitely would love to start right here in NYC though that would be the ultimate goal for me.  

That went away during covid when you could be in a coma stranded on a deserted island and done nothing to an asset and it appreciated.

If price point for these properties is a limiting factor, properties found on the North side of Veteran's Memorial Pkwy can be viable too, as long as they are on the East side of Santa Barbara Blvd, and South of Pine Island Rd (SR-78)

You can try the different COOPs on the island, as they seem to be decent.