Personally if I did decide to buy a second home or vacation rental I wouldn't be in the market now. I would wait until the RE market cycles and buy one at a lower price. Second homes and vacation homes are the first thing to get sacrificed when things go to heck. Since they tend to be grouped in certain areas there are usually a good number made available to choose from or negotiate on. Having a lower basis will help increase your rate of return on your investment.
