One company we use performs a yearly inspection either at turnover or renewal; the other only does one 30 days or so  before tenant vacates.  

-I only consider the Vegas/Florida option since there are really nice properties in those markets for cheap, and since they are good vacation/retire areas I figure if/when the market improves they should do better.

Short-term like vacation rentals and corporate rentals as well as the more typical residential rental.If your going to "set up" a rental, you first need to know your target market.

If it were me, I'd wait until the tail end of of a recession to buy in vacation rental area IF that's something you desire to own.

My management company knows to call me first, I can decide to go myself, send my own guy, or let their guy go.I've had to use their guy when on vacation twice and they charged me very little.  

Can pm on Monday when I return from vacation thanks.

@Jen FaulknerYou may find more information if you look up Short Term Rentals or Vacation Rentals.

The only issue you're going to have is that you'll have to document why the new home will ideal as a primary residence while vacating the current primary (larger home, larger family size, more rooms, better area, etc).

I am thinking that when I close on December 4th, I tell the current tenants on the first floor that they have a 30 day notice to vacate the unit so that I may live there.  

I have a goal to one day buy an island and develop it with a boutique hotel/vacation property for friends and family to utilize and for a private vacation getaway business.Anyone here invest in exotic land or island purchases?