An HGTV star shares 7 tips to keep in mind when buying a vacation home for rental income

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Scott McGillivray

Arash Moallemi

Scott McGillivray, real estate expert and host of HGTV's "Income Property" series.

Buying a vacation home can be a smart investment - if you know how to pick out the right one.

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We sat down with Scott McGillivray, real estate expert and star of HGTV's "Income Property," to hear his advice for vacation home buyers who want to earn a little extra cash by renting out their new place when they aren't around.

Here's how to spot a property that will generate some additional income and provide you with a place you can enjoy for years.