My first purchase was a condo in Mammoth. I did that many more years ago that I would like to admit because I used to go there many times each winter. I held onto that condo for around 5 or 6 years. It rented okay in the winter as a vacation rental and it was very nice having a place to stay whenever I wanted but you have to block out your stays far in advance due to demand. Cash flow wise I would lose money on it each year but I did well on the sale due to appreciation.
It was also nice to go there and have somewhere to stay in the summer.
I would have no idea how the numbers look now due to the valuations up there. It was convenient though. Also the vacation renters would cause some damage occasionally.
