I just checked the MLS, that listing is highly deceptive. The income they are quoting is total revenue booked by the hotel, not even close to what the owner would get after wages, management, FFE etc. That unit is a 1.4 factor meaning the owner likely grossed $56k last year. Subtracting taxes and condo fees, you would be around $40k. Having said that, the income level would support $550k debt at 5.5%. Considering your circumstances, this could be a good investment.
