This needs to be at least positive, or your price is too high.

The mortgage on the property is still fairly high with a balance of  $285k.

It's a very competative segment as it is highly sought after for the same reasons you are looking at it.

And I'd highly recommend doing a once-per-year walkthrough of the property yourself, so you know the manager is working in your best interest. 

Its certainly hard to cash flow significantly in the current environment (high rates, high values etc) - I tend to think though that just "doing" a first deal even if it doesn't make too much is valuable versus getting stuck in analysis paralysis - the learning from the experience of actual doing it generally is 10X + even a ton of courses, info, spreadsheets etc

The FAQ's on this ordinance's website uses saying they don't have three times rent as an indication they may be discriminating.

You can check my website out in my bio and get all the information you need there.    

In the long run the demand may fall off a bit as the prices may get too high for travelers and they will seek cheaper vacations. 

I am very eager to start taking action and learning but live in a high cost of living market (Boston) currently and for several reasons (need to save more, move to lower cost of living place etc.) will not be able to start for at least 1.5 years. 

But with the new high interest rates it is very hard to decide if I should wait or bite the bullet.