For example our bridge loan product is ok with your debt to income being to high at the time of purchase as long as the debt to income will be low enough to qualify once you rent (or sell) your current home. 

Talk to your CPA about how to structure this as a failed investment or something to offset your w-2 income.

You are paying ordinary income rates on the interest -no way around that.

The pet fees alone add a lot of additional income year after year. that alone is worth it to me.

...I wouldn't.To make matters worse, the property isn't appreciating (because it's in a low appreciation market, or even a depreciating market), and the tenant pool is primarily made up of people with bad credit, low/no income, and a history of property damage at the previous places they've rented.

I believe the % your referring to is monthly rental income of purchase price/cost.  

I am open to many different ideas and opportunities, ultimately I just want a peaceful getaway in the Offseason but a place where for the other ten months of the year could be income generating.

This way, you can maintain your privacy while still benefiting from rental income.

If so, does the rental income give you any extra cash flow, or at least cover the large majority of the mortgage/expenses?

Other investors I know use this to find properties based on zoning and uses allowed:https://www.deepblocks.com/They also have overlay maps of zoning codes/census tracts/demographics like population and income, etc.