Hello Ruta,I am definitely interested in purchasing condos or tourist beach property as an investment vehicle.Would love to connect.Thank You.

I figured tourist/consumer type stores downstairs and offices upstairs.I think I have enough cash lined up for a down payment on the project, but I need to research this through, where do you folks suggest I look?

If you have an STR in an international tourist destination city like NYC or San Fran then that is likely a different outlook compared to somewhere that domestic tourists would drive to with their families.

I personally built & own a 12 unit, 100% occupied (for last 3 years) multi-family , with 10.5 % cap, $115K gross inc, on 3 visually appealing acres, located within 3 minutes of a major military base (yet I have 50% "civilian tenant ratio"-thus my tenant base is diversified), 8 minutes from a recreational lake & tourist destination.  

There have been constant struggles with the city, county, state, and federal government for tax relief and financing to make this project a reality.The Pyramid Cos. claim this resort would create approximately 120,000 new jobs and bring millions of tourists to the Syracuse area.

It also come with first hand experience being a landlord2) Traditional house hacking through Airbnb - similar to the above strategy, Airbnb is a fantastic one as well since Denver gets a lot of tourists.

Gains throughout this country are mostly realized through appreciation as the rental market here still does not provide any kind of significant gain, but visiting tourist are slowly having an impact on that as well.

Buy in more recession proof corridors of the United States less dependent on one or two major industries, or with a large government base, or with a retirement or tourist community.Disadvantages of Buying Out-of-State-Multiple tax filings, deadlines and other local taxes due.

This was a cold call (off market) deal and we have taken a mom and pop hotel and added value in many ways, increased occupancy and ADR (average daily rate), integrated with OTAs (online travel agencies) and increased marketing efforts to emphasize the strengths of the property as a destination for tourists visiting our region.

@Michael Greenberg, Sonoma has become so known for being a travel/tourist destination, they started limiting the option to have an air BNB due to multiple complaints from the local homeowners and residents about the amounts of traffic and other areas that had been severely impacted by all the visitors.