This can provide you with more leads for less money.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

IMHO I think the draw to the Poconos is it's proximity to two monster metropolitan markets and their middle and professional class who may prefer in many cases to tone it down from places like Miami, Hawaii, Vail, or Stowe, and instead have the luxury of a 1.5-2 hour car trip to somewhere where they will save on airfare, get a good deal on their accommodations, and still have loads of fun with their families without having to deal with exorbitant vacation costs and aggravating travel arrangements. 

For me I would just save your $$$ and use it towards your next house down payment, but If I were you I would ask the Credit Union Loan Officer to break out the different scenarios. 

We talked to some people (banker, pm, etc) about a weekly rental property but seems it would make more sense if you wanted to use the place yourself and not too concerned with making money.

Pros to this are I could sell with more money in my pocket than I could listing it, cons are that I lose my VA entitlement for 2 years, which to me isn't a huge deal, as I don't have enough entitlement left to buy house at my next duty station anyway.Thanks, and Happy Memorial Day!

Assemble as much money as is reasonable, be prepared and enjoy the ride.

I turned this into a LTR just because we moved 2.5 years after buying it and I wanted to rent it to not lose money on the move.

I’d look at it another way figure out where you want to live and than figure out if house hacking is a way to afford that area and if you have a long term plan to afford that place with at most one roommate, you will find it hard to break even much less make money house hacking anywhere in the region so may as well buy in a place you want to be long term, if your not ready to commit at least medium term, rent.

It's a great way to increase your net worth and these loans can also be used to pull cash out of a property as it appreciates allowing you to reinvest money into new deals.Happy to connect to discuss further.