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It's becoming fairly common here in Australia where they call them resorts. A friend of ours managed one for a while and she seemed to think that they worked ok for owners.
However some owners seemed to think that their condo/apartment should have a 100% occupancy rate whilethe reality was something a little different.
One group of owners may have got badly burned here in town - they all forked out something close to half a million each buying off the plan only to find that the resort opened 5 months late.
I heard one of the owners lamenting that he was the only retiree he knew with a half million dollar debt that was generating absolutely no income.
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Left intentionally blank ... just like my brain
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