My advice would be to start reading, develop a plan, and connect with others.

Hello all, Just curious as in the first couple of steps to start focusing on when it comes to developing a business plan for vacation rentals?

I spent most of my cash on my down-payment and remodel, however, with the work I did (and rising home prices) I have developed a good amount of equity in a short time.I have been approved for a HELOC of (roughly) 150K, which I want to use to invest.

There are a lot of costs involved in development.

I have developed a habit of purchasing homes in the city I move to and when I depart I rent the home out using a property manager.

The key here is to try to develop a relationship with said realtors. usually, after a couple calls and maybe even a face to face meeting you'll come across as being a serious investor.With that, try to find out from which ever realtor you speak with whether they pass around potential listings within the their office before these listings actually get posted on the MLS.

That's what i'm doing...and along the way develop your own set of questions and notes.

Oh, and a special thanks to our Developer Edd for all his hard work on this!

So, instead of buying a house and paying interest to buy the banker's shinny new car, he instead buys land, develops the land and then sells the land for a huge profit.

I am close with a couple of very large developers/investors who have become wildly successful.