Advice for purchasing 2nd property

[Matt McMains]

My wife and I recently purchased a home in Corona, CA back in Feb 2021. Since then, we fixed it up a little and with the way the market is going we did a cash out refi and are looking to purchase another property to use as a short term rental. 

What is the best way to go about purchasing our second property? do we start up an LLC? list it as vacation home?

I'm open to any advice, I appreciate your time!