Many Albertans are looking close to home when it comes to buying a vacation property 

Calgary residents Nora and Norval Horner recall many summer vacations spent along Alberta's Gull Lake.

"Nora's family had a cottage on Gull Lake, and we used that cottage a lot while our kids were growing up. We'd come up the end of June and stay 'til Labour Day," recalled Norval.

They loved cottage life so much that when an opportunity arose to purchase 210 acres of land along the northeast corner of Gull Lake, the Horners bought it and started their own cottage development – Meridian Beach.

Owners and experts explore the ins and outs of operating a vacation rental property

The Gierke family has seen just about everything while renting out their Sylvan Lake vacation home over the past 20 years.

They've housed families, business people and youthful tenants who turned their 840 square foot cottage into a party house.