Pay off 2nd home or save for new primary residence?

My (28F) husband(33M) and I are at a financial turning point. We just finished funding our emergency fund and now we are looking towards the future.

We own our current primary residence with a 2.3% interest rate, so I’m not interested in paying it off early or making extra payments as long as I can make more in a high yield.

We want to move out of our current home in about 3 years, I’m estimating we will sell with $100k in equity before closing costs. On our new primary residence we want to put down at least 20% and we are looking at using my VA loan when the time comes.

Now for the second home. We rent out a home on Airbnb that we own with 3 other couples, so 4 couples total own this home. We are on the loan for this house so it shows up in our debt to income ratio. The current interest rate is 6%.

We have structured the ownership in a way that if you put more money into the house, you own more of the profits. Currently we own the second largest portion at 20%. One couple owns 75% and the other two own about 2.5% each.

Also, it is important to note that we are only in the second year of owning the home and it’s in a seasonal rental for the most part. So far, no one has collected any profits and we are barely breaking even, but we know that once we pay off the mortgage we will be making money. We are also okay with not making money on it right now because all of the couples use this as a vacation home in the off season.

So my question is, do we save money to set aside for a bigger down payment on our next primary residence, or do we pay more money towards the principal of our Airbnb?

The way I see it paying the Airbnb principal has a double bonus of getting our debt to income ratio lower and increasing our ownership in the profits. I also don’t want to rely solely on our debt to income ratio being lower to get into the house we want so I also want to save.