I've only done cursory research and talked to relatives that live there, but from what I can tell, break the bank. The highest occupancy rates for rentals are the highest insurance areas. Some of these people in SW Florida aren't carrying insurance or know they aren't 100% insured.
Then, when your rental gets hit, do you have the resources to get it back and running without having everyone down the line bending you over. For me, it would be hard to pencil out without the savings of using it personally for 2 or 3 months. It's also a saturated market.
Cheap insurance will run you $500 a month for owner occupied. Once the bank finds out you can’t actually afford the place and need to rent it the unwashed masses then expect it to increase to $750+
Okay, so just for rental properties then? If I get something there, I wouldn't rent it out. I'd just want it for personal use about half the year. Really enjoy Palm Beach. It was a pain in the ass from time to time when a certain someone was living there, with shut downs and all, but now that he's relocated, that shouldn't be an issue again for at least 4 years or so.