Florida Keys L/O opportunity

I found a condo with seller financing…asked if they would consider L/0…said yes. Price is 410K…recent solds are 345K and 375K…remodeled…I could sublet this seasonally, or monthly…pool,dockage, garage, needs some work…Seller will take 10k in option money, 1 yr option with the right to extend a 2nd year. Location is fabulous…older people have these condo’s and some are starting to turn them. I would have to pay 1600 per month, but I can get 800.00 per week, or 2500 per month for a seasonal. With all the tournements and tourists it will pretty much pay for itself. Why do I want this…Keys are very expensive, and I have been looking for a few years for a place that we can use and also rent out. We own a boat, which we might make part of a package. Any comments would be appreciated…they are very nice folks and I am running down tomorrow to take a look…Even if I break even I would be happy as it would give me a getaway and still be less than paying for a hotel haha…