But a vacation rental, you'd better be ready to take calls and handle things at the most inopportune times. 

I am looking to buy again in the next six months.Here’s the situation:I own a home in San Diego, currently worth about $1.05 million once the ADU is built.I owe $680k on the mortgage at 4.25%, with monthly payments around $5,500.The property generates $7,500 in monthly income: $5,200 from the main house as a vacation rental and about $2,300 from the ADU as a mid-term rental.My broker is advising me to do a cash-out refinance and switch to a DSCR loan, then move the property into my LLC.I’m hesitant because current interest rates are around 8%, and I was originally considering a HELOC due to these high rates.Given the high rates, would you recommend sticking with the HELOC, or does the DSCR loan make more sense in the long run?

Most of my guests book well in advance because they are mostly extended families and need to coordinate vacation times, so they're not as worried about last minute accommodations. 

Decent rentals are hard to come by, since we live in a "vacation town" a lot of the previous rentals have now turned into Airbnbs.

I got paper work signed and she vacated!

About four years ago, I transitioned all my long-term rentals to short-term and vacation rentals, and it has proven to be the best investment decision I've made.

Adam, I am vaguely interested in BRRRR to vacation rental in cottage country to play the long term appreciation game.

If you want to take a vacation, be out sick for an extended period, or even just move on, you'll need to "hire" and train a replacement.In terms of "The Cashflow Quadrant" (E - S - B - I), you're in the bottom-left corner: you're self-employed.You would need to move to the top-right corner and become a business owner: the business needs to run even when you're out sick, on vacation, "on family leave", etc.If you're new to the concept, "The Cashflow Quadrant" looks like this:E | B-----S | I"E" is you're an employee in someone else's business. 

in addition to everything else, it would bother me to pay a bad tenant to vacate.  

I’m looking at a $20k make ready after long term tenants vacated.