"you need to do a great deal more research."
Indeed! This is something that's going to happen (if it happens) about ten years out.
For the $1200 per month not counting insurance, how much were you paying for insurance on top of that?
Round numbers, if our finances continue as I expect them to, we will be in a position to spend something in the neighborhood of $300k on the boat and whatever initial "make ready" expenses we incur. After that, we should be able to generate an income somewhere between $2500 and $5000 per month. What I'm hearing from this discussion is that those numbers should be more than sufficient.