Or sell & throw that money towards our next primary residence? 

There are so many misleading "gurus" and advice from others online - that don't make logical sense.Who do you think qualifies for an S8 voucher?

I guess tourism is an important enough industry there that while they need to limit the short term rentals for local residents, they also need them to provide lower price points for visitors. 

I have a primary residences that is in a great area that I’m looking to rent out within the next year or two. 

Park rules are usually much more restrictive than even houses in HOAs because mobile homes and RVs are close together, and have older residents who are nosy and particular.

You may qualify and make it your primary for two years before moving to the next. 

I'm always conflicted with whether I should leverage my primary residence for the sake of investment properties.

It depends on the lender but at a min they must follow TX SML or lending laws in the state in order to compliantly lend in TX, on whether choose to apply this guideline to all types of occupancies or transaction types (non owner investment, second homes/primary residences, etc)80-85LTV on rental properties is only on the purchase for fannie/freddie loans but on rate term refinances its max 80% and cash out max 75% for 1 unit and up to 70% for 2-4 unit cash out conventional.On HELOC's and rentals are up to 70-75% depending on the HELOC investor or product.Its good to distinguish between what the lenders are willing to do and for which product and also these loan products must abide my state law as well as an additiona layer of "overlays," on top as well (whichever is worst / most conservative).

I've reached out to lenders here on Bigger Pockets- but their rates & terms seem high (DSCR or just not good terms)- I qualify for a conventional loan, but my DTI is almost maxed so why pay an extra 2-3% DSCR when I don't have too. 

Or refinance for spending cash when it come time to retire.The advantage you have living locally is that you can buy a new primary residence every few years and keep the prior home for a rental.Good luck.