Reality is, unless you like to travel to the spot in the off season you'll be eating up your potential bookings and thus profit by travelling when everyone else is.

However, look at the property taxes for each prospective property - they can run relatively high and definitely have the potential to eat up your profits.

I'd REALLY love to be able to take down a $2m property every two years, but with 30% down from my local bank, I'd have to save up for approximately 40 years for a down payment.How do you eat an elephant, my friend? 

If I screw up the estimate to you and it ends up taking me a lot more time, I have to eat the costs.

That will further eat into your cash flow. 

You guys eat, breathe, and sleep this stuff.

They are not very liquid and depend on business sales to survive.Higher median income areas of 100k or more the people's idea of roughing it is eating steak 1 time a week instead of 3.

Sold a couple along the way to get rid of some properties that were not ideal for my rental goals which is very low time management of tenants while self managing all the properties, no property managers, that eats into money you can use to pay down the debt.

If I went the vacation rental route I would then have to take on a property management company which would eat into my profit, but could be worth it depending on how much of a return I get.

Studying how to run a buisness for about 4 years now and have been applying it the last two years doing real estate full time this has been the most educating time of my entire life because if i don't produce results i don't eat.