Solid local economy from all the year-round residents with a strong seasonal economy from tourism.

At one time the area focused on tourism, which was the best direction, but in hiring a new City Manager from southern California that wanted to move into trying to get industry there, they left tourism behind.

In areas with good tourism, etc., you might want to look at Bed and Breakfast managers.Good luck!

TIP: You can get plenty of photos to use from your local chamber of commerce and area tourism authority.

If I'm down there and see a property I love, I would probably still buy it, with a regular mortgage.I do have to figure out where I want to live mostly, but some of that will depend on what I can do with the money and how confident I feel about longer term stability.Renting out a Spanish property while I'm in Canada seems somewhat easy, as it's pretty common there to rent out fully furnished places, and tourism rentals would be an option too, to help pay for it.Canada on the other hand, I'd have to put everything in storage or sell it off every time I want to be away and rent the house...

Wondering if I am doing the right thing in purchasing this.The economy has several anchor points, the military, a naval hospital within walking distance, ship yards, ports, tourism "Virginia beach".These are the financials. $74,100 current rental income.$1,800 Laundry (old top load COIN (0.75c) washer/dryer, I believe this can be improved, with new card machines)ExpensesBldg Insurance        2976Flood Insurance      2690 (hoping this doesn't increase...)RE Tax                    6297Electricity                720 (decrease through more efficient lights/washer/dryer)Natural Gas            1200 (2 tankless water heaters, decrease through showerhead)Water/Sewage/Trash  4380 (don't know exactly how much for water, though trash is $33/unit, hoping to add water saving aerotors/showerhead/toilet to all units, maybe submetering)Lawn Care               540   (Will eliminate this due to me living on site) 7% - Vacancy               5187 (little turn over)7% - Management        48246% - Maintenance        4446Actual Income $75,900Expenses        $33,260Net Income      $42,640P&I                   $29,568P&I 2nd              $9,278End Cash Flow $3,79475% loan 5.25% fixed/amortized 5/25Seller financing 40k 6% over 5years So my question is, will this deal work?

High Tech, Medical, Education, Manufacturing, Farming, Tourism, etc.

However, things have been recovering steadily since then, with building starts up, home sales up, and other industries - like tourism and hospitality - recovering now as well.

We deal a lot with tourists and tourism, and many people come here and buy second homes and investment and rental properties.

@Randy Benglan It's exciting to hear that tourism in your area is booming.