Specifically, must this be a commercial/business loan type where you have higher rates and shorter loan life or is there an alternative loan type? 

There are alternative programs out there with reduced cost, but you are typically looking at 20% down. 

Alternative is to get a board certified real estate attorney to assist you.

With $200K-$250K, you can secure high-quality rental properties in both cities while benefiting from steady appreciation, strong rental demand, and landlord-friendly laws.Oklahoma City has a rapidly growing economy, with major industries like aerospace, energy, healthcare, and tech fueling job growth.

A great alternative would be simply licensing or leveraging a different web forum platform that already has a mature mobile app available for and that BiggerPockets could simply redirect mobile users to when they open the site.

Alternatives include seller financing, a lease option, or using an LLC or trust to structure the deal while maintaining tax benefits.

Alternatively, put it on the market and give the tenants notice keeping in mind that showing times will have to be done with 24 hours' notice to the tenants. 

This way, if vacation rental management becomes too demanding or isn’t feasible, you have an alternative strategy in place.Make sure to confirm that the HOA or association allows rentals at all.

And if this LLC structure is overkill than what are the alternatives?

Alternatively, you may want to consider switching to a platform that offers this level of transparency.Additionally, on both Airbnb and Vrbo, if you have access to the account, you can view the transaction history.