is rental propert a good investment if it is break even prior to tax right offs?

this property is located in a resort area and rented on a daily or weekly basis. It is manage by the resort and the break even includes these fees.

Yes I would say so. The “real” money in investment property is in the capital appreciation anyway.
If you can cover your costs for a reasonably long time whilst the property is growing in value, it means that you are using other people’s money really effectively.
Look at it this way…. if you have a mortgage on a property…. let’s say the property is 100.000€ worth and you have put 20.000€ down, you are essentially receiving a return on investment or a “break even” based on 100.000€.
Let’s say your costs are 5% but you break even, this is not a cost to you but it means that you capital appreciation profit is clean, i.e. all for you.
Let’s say that the property goes up in value by 60% by the time you sell it, this is 60% profit on 100.000€ and not on the 20.000€ that you initially put down.
This would mean that your profit is 60.000€ which is three-fold what you invested.
Most buy-to-let properties don’t do much more than break even anyway. However, remember that part of your costs (if you have a mortgage on your property) that you are covering are being put back into the property to pay your mortgage off (if you have a repayment mortgage) so really you are receiving profit as you are having to pay back less of your loan once you sell it.

1501 Grandview Resort Rental Las Vegas NV

[affmage source="ebay" results="8"]Resort Rental[/affmage]
[affmage source="amazon" results="2"]Resort Rental[/affmage]
[affmage source="cj" results="3"]Resort Rental[/affmage]