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

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

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.