Whats my best option?

[Jill Drebing]

Hi all-

My husband and I currently own 4 rental properties.  We have no mortgage on any of them.  Current market value for all 4 combined is $325000.  Rental income $4424/month.  Currently have 20k in reserve and another 32k by end of September.  Total cash approx. 50k.

Primary residence owe $758k worth approx. 800k, basically no equity to pull.

Looking to purchase a vacation rental for 200-225k. Will be able to get $1000-$1200/week during prime season memorial day thru labor day.

Should we apply for a mortgage loan and use our reserve for 20% down payment? or Try and get a personal or business line of credit?  Not sure what the best financial option is for this deal but do not want to lose the deal.

Thanks,

Jill