Thinking of Buying property for an AirBnB in another state - any advice?
Hey all, I live in NY and looking at buying a house in Florida to use as an AirBnB and to vacation in when not in use. 

Any advice the community could give would be great! Thanks
[{"id": "i247tvk", "text": "Try realestateinvesting sub", "replies": [{"id": "i253b66", "text": "It\u2019s weird it won\u2019t let me post though I have enough Karma etc", "replies": [], "depth": 2}], "depth": 1}, {"id": "i24g8w2", "text": "Wrong sub, but I will tell you (from experience) that property management fees in vacation areas are 2-3x higher than your standard 10%.", "replies": [], "depth": 1}, {"id": "i25a6to", "text": "Watch out for Condo fees in Florida and assessments (especially)", "replies": [], "depth": 1}, {"id": "i2739cm", "text": "1. Who will maintain the AirBnB in Florida?  Multiple short term renters requires weekly or bi-weekly turnover of the property (cleaning, laundry, landscape, etc).\n2. Who will inspect the property before and after the renters arrive and vacate?\n3. Insurance is high on AirBnB property (yes, companies verify).\n4. What happens if the AirBnB is destroyed by a renter?  Who takes lead?\n\nHiring for cleaning, repairs, landscaping maintenance, leasing, etc adds up.  Just a few points to consider.", "replies": [], "depth": 1}, {"id": "i27mgg4", "text": "I live in a major tourist area of Florida and there is a lot of cracking down going on with Airbnb rentals. If you buy a home with a condo or homeowners association, you need to scrutinize the documents, even then, the owners could vote later to ban airbnb's or short-term rentals.  If you buy a house that is not in a subdivision with an HOA, the local city or county could pass an ordinance restricting airbnb's.\n\nI'm not trying to tell you not to do this, but to go in with your eyes wide open.  Don't go into more debt than you can afford, or sink your life's savings into it; make sure you would still be happy with the purchase even if the Airbnb factor is diminished or eliminated", "replies": [], "depth": 1}]