They used their equity in their homes and LOCs to take vacations and buy new cars.

And I'm happy to say that my wife and I now have a very successful vacation rental property up and running.

I believe the Island has a lot of potential as lots of people are moving here to live and purchasing vacation properties too.

We are beginners looking to start up a business with residential rental and vacation rental properties.

Vacation rental experiences welcome too!  

In the mean time, while you save up some more, it's free to cruise zillow, realtor.com, etc to get a feel for the comps in your target neighborhoods.

This high interest account has my personal funds too, emergency fund, car fund, vacation fund, ect....but i keep a detailed spreadsheet on how much is in each fund. 

. $750K & condo is around $360K), cash flow via (legal - not illegal vacation rental) rental income is extremely difficult unless you buy all cash.

I understand that in an economic recession or depression, rental properties all over the US can be affected, but my sense is that the first thing people cut from their budget in bad times is vacations, so Orlando and Las Vegas may be more sensitive to severe economic downturns than other areas since their economies appear to rely very heavily on tourism.  

I'm a little dubious about multiple renters because of local vacation rental ordinances and restrictions.