Old as Dirt!
Join Date: Nov 2008
Location: Tampa Bay Area
Thanked 184 Times in 174 Posts
Rep Power: 11
Watch out for property taxes...
And maintenance and capital repair/replacement assessments! Sometimes these are quite sizable. Ensure you read the CC&R's carefully and that you do understand what you are reading.
If rentals are permitted, in theory one could buy an overlarge slip that might be needed at a future time and then lease it and use the lease proceeds to cover the monthly carrying costs of the larger slip and some of the costs of renting a smaller slip. Since the "rental" would be a business, you would be able to deduct the operating expenses (i.e. maintnenance and capital assessments), taxes; and, interest on any financing you might use and come out roughly even or even slightly ahead.
"It is not so much for its beauty that the sea makes a claim upon men's hearts, as for that subtle something, that quality of air, that emanation from the waves, that so wonderfully renews a weary spirit."