Starting out decisions without a ton of money

[Michael Ashe]

2nd time in the forum asking a "Get Started" question.

My girlfriend and I (soon to be married) own our current home and are 3 years into our 30 year on a 3.75% rate. Between appreciation and our payments we have 50K-75k in equity. 

I'm debating how we want to approach a 2nd property for either long term rental or short term vacation rental. If we were to turn our current home into a long term rental based on comps we would be in the positive around $700-$900 a month. Is there a benefit to purchasing a property specifically for rental purposes versus purchasing it as your new home and converting your current account into a rental?