My question is which loan would be the smarter choice?

We are in the market for a vacation rental in Western NC.  Got a very good recommendation for a realtor there.  Started working with him last fall.  After some initial activity and one round of viewings, we've not hea...

@Nick Pandya you won't find a lot of choices for size and they are not cheap.

I thought this might be a good alternative and he’ll me start slow... 

@Kimberly McCall hi, welcome, @Dan Gamache numbers provided above are statistically accurate.One thing that I should mention as an alternative, if you own your home, is a HELOC.

I read a lot online on what others are doing and the pros and cons of each choice.

I need to make a choice and I dont know enough information to make the best informed choice.

I have 2 higher end rental listings in DC right now and in those neighborhoods there's a huge rental supply so I've been assuming that renters just have a ton of choice and we need to lower the price or up the value proposition to get more interest.

If you had to use an alternative income documentation loan, or another type of non-QM loan that allows some other qualification such as shorter time from foreclosure or bankruptcy, then having a DTI over 43% or over 45% can affect interest rate.  

I recommend checking them out.I think if you're managing hundreds of properties that AppFolio is a good choice.