re: What are the ins/outs of buying a beach condo as an investment?

Beach condos on the panhandle are terrible investments. The only way you can make money is if there is another bubble/boom or you 'steal' it. I bought one cash in 2009 at 50% of the peak values. I have more rentals than 90% of the units there and the net income (after insurance, utilities, dues, commissions etc) returns about 5% or so. My unit has low dues and I've had no assessments. The vast majority won't even return the little I make on mine.

I bought it hoping for appreciation and as a place for the family to hang out, but it's a very poor investment as virtually all of them are.

I did a TON of research before I bought and unless you virtually steal one, it's not going to be a good income producing investment...and even in that case, you're better off financially selling it at market price and investing in 'real' real estate.

I think you have a mistake in your analysis if you think you're going to finance it and pay it off in 10 years...unless you put down a BIG down payment which you'll get zero return on for 10 years.

What's the cost of the unit, your down payment, and what you think you'll get in rental income?

ETA: I found the cheaper places I wouldn't want to spend time in had better returns. Slum lords always seem to get better returns. The bottom end properties MAY cash flow a little, but then you have to worry about repairs, assessments, foreclosures ruining your building etc.