It's similar to a vacation rental - is it an investment or a place for personal use? 

There are plenty of people that would be interested in taking some cash out of their vacation home while still using it once in a while.

You can increase your net worth by investing in assets that appreciate instead of spending your money on vacations, expensive vehicles, designer clothes, and other luxuries.Cut unnecessary expenses: Many people spend more than they realize on daily expenses like eating out, buying coffee and snacks, unused subscriptions, and other things.

I would like to use it as a vacation home as well. 

Generally prices are too high to hit ideal numbers on most beaches, however there is usually a good vacation rental or 2 on each beach. 

There are great rental long term rentals in my area but also considering an investment  at the beach for a short term vacation property. 

Name = Jonathan KlemmExpertise = Renovation & ConstructionLooking forward to = In-person Networking / Vacation in the sun (getting away from the windy city Chicago)Connection desire = Someone who has scaled a service business to $100MSession = Flipping houses in high interest rates, but I am biased! 

This will allow you to acquire more rental units and also being able to use the vacated unit rents at 75% to help your debt to income ratio DTI.There is a FHA 100 mile rule if you do plan on using FHA on your 2nd house hack.

(Trying to skimp on coverage by not telling them you're Airbnb-ing the place will defeat the purpose of insurance if they deny a claim because you weren't truthful.)There are specific STR insurance carriers like Proper Insurance, but most major carriers offer a rider for vacation rental or short-term rental insurance as well. 

Heloc any existing properties with sufficient equity, use a 10% loan program out of state for a vacation home, it beats 20-235% for an investment.