A vacation rental could generate higher returns but requires more active management.

Nowadays, people from all over the world vacation, work temporarily, move (with or without their business) and retire in the Costa del Sol.

Perhaps if your partner was a general contractor or handyman type there may be some merit there to reduce costs / increase profitability.If your partner enjoys deal sourcing, a better move might be for him to become an agent - so he could legally collect commissions from finding deals and managing properties for multiple people. 

Unfortunately, relying on a "nice card" approach doesn't always ensure that tenants will vacate the property in good condition.

All are local to me in a non-vacation rental spot.

We are both analytical and enjoy working with numbers.  

Most of the time i got cursed out and hung up on, but it didn't bother me one bit, and i actually enjoyed the grind.

Currently, we own one vacation rental in Duluth and one college rental. 

Reason why is because FDIC Bankers "Do Not" charge points on traditional programs like primary homes, standard investment purchase and refinance, Second home/vacation homes.Lenders, Brokers all charge points to meet their Loan officer compensation plan (commission).

This can be especially appealing for those who enjoy traveling or seeking occasional getaways.