No Guarantee
There's no guarantee how often or for how long your condo will be rented while you're gone. Ideally, you could offset the costs of everything including the mortgage, but be prepared for times when that doesn't happen. Remember that this is primarily a vacation home and potential long-term investment, not a short-term, quick money maker. Another benefit of investing in a condo hotel, rather than simply purchasing a vacation home, is that when you stay in your condo, you get all the amenities of a four or five star hotel! Most condo hotels, because they are built and marketed as resorts, have fitness rooms, spas, fine dining restaurants, and pools. Some will even have valet and concierge services, complimentary continental breakfasts, boutiques, and many will be oceanfront properties.