The authors of this article, the Glossbrenners are well respected in the vacation rental by owner industry. The thing to remember is that those markets where your "flip flopped" are the same markets where now the general rental and vacation rental markets are flooded. Although renting your investment out will certainly help with the cash flow, and maybe even break even, don't expect to get rich quick. This is real work, and takes a real commitment to do it right. Their tips are sound for getting a start. You may also want to consider hiring a professional to manage the place for you.
When Your ‘Flip’ Flops: 5 Tips for Offering Your Investment Property as a ‘Vacation Rental’ | RISMedia: "When Your ‘Flip’ Flops: 5 Tips for Offering Your Investment Property as a ‘Vacation Rental’
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By Alfred and Emily Glossbrenner
RISMEDIA, Nov. 10, 2008-You remember the news stories: People buying condos in Florida, Nevada, California, and other hot markets and “flipping” them for a fat profit before even a single spade of earth had been turned. Then everything went crazy, and hundreds of thousands of investors were stuck with new bricks-and-mortar properties that no one would buy.
Fortunately, for many, there’s a very palatable alternative: offering those properties as vacation rentals or “VRs.”
As hard as it is to believe, there may be a silver lining to the current turmoil. First, people will always take vacations. But now they’re more likely to stay on U.S. soil. Second, with their full kitchens, washer/dryer laundry rooms, swimming pools, and other amenities, vacation rentals not only offer much more space than a hotel, they are much more"
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