Second mortgage to buy investment

[Erik Cardero]

Hi there,
Looking for some advice, I recently decided to get a condo in Orlando for investment and vacation , so and Airbnb type. I have 25k saved so not a lot, I applied for a heloc but due to credit limitations I qualified for a second mortgage, still in the process to get around $60k . I’m a bit hesitant, any ideas I’m favor or against it? 

Appreciate any insights from someone with experience doing so. 

Thanks

[Erik Cardero]

Quote from @Erik Cardero:

Hi there,
Looking for some advice, I recently decided to get a condo in Orlando for investment and vacation , so and Airbnb type. I have 25k saved so not a lot, I applied for a heloc but due to credit limitations I qualified for a second mortgage, still in the process to get around $60k . I’m a bit hesitant, any ideas I’m favor or against it? 

Appreciate any insights from someone with experience doing so. 

Thanks

I have an update, was able to secure a HELOC from a credit union and was able to use it as a down payment for an Airbnb and so far is working great , I use my cash for closing cost and repairs and and credit to furnish the apartment, been renting it about 85% of the time, pricing it to focusing on longer rentals have a 2 months rentals now.