@Robert5812 This is a tough one, and you will get many different opinions here. In your position I would probably look at similar properties (for both options) in the area and check out both their prices and availability in their calendars to see how well they are booked. It will take some time to do it, but may give you a better idea of the market. Also check out other holiday companies and their listings as well. In addition, take in resale value once renovations are complete between your two options.