I'd plan to pay off both loans within 5-7 years with cash flow from the rental and other income and assets.I'm an accredited investor and will still have more than a year of expenses covered in liquid assets and additional funds to buy another 1-2 properties in the next 2 years, which is my goal.I don't know if I've provided enough or the right information to get some opinions if what I'm planning to do with my current house and new home purchase makes sense. 

Income Digs has great YouTube videos on how to tailor QBO for real estate investors if you're looking for a DIY approach or some education on it. 

I personally like "the quickbooksdude," "Hector Garcia CPA," and "Income Digs."

Please keep in mind that "suspended passive losses" or losses that are generated that are passive by nature, will STAY passive losses, and CANNOT be used to offset active income.

Overall the positives outweigh the negatives in my experience and what you lose in nightly rate you make up in occupancy/overall income and ease of management. 

I have $14k saved up right now and I have my own business, from which I earn about $1-2k per month. 

Seller financing does not always sell for more money and if there are big price declines then you may end up having to forecloseMy recommendation is to sell it with borrower getting traditional financing and put that $ in a tax friendlier account than loan interest = ordinary income rates

@henryClark  owns property there and is up to speed with most things Belize.I was just down there in Jan. looking at some government sponsored low income housing where there were capital needs.

The goal here is to get our active income recategorized as passive, and to do so we need to own a bit of property for it to make sense for you and your wife.

So the income number is likely low and the maintenance numbers likely zero.