If you rent it <14 days/year, income is tax-free.
Hire a local property manager or landscaping service.
Second homes often require higher "hazard" or flood coverage. buying a second primary residence
Buying a second primary residence—often called a "secondary" or "vacation" home—is a major financial move. While you can only have one legal primary residence for tax purposes, you can own a second home that functions as a personal residence rather than an investment property. Financial Prerequisites Lenders typically require 680–720+. Low DTI: Debt-to-income ratio should stay below 43%. Substantial Down Payment: Expect to pay 10%–20% upfront.
They know specific market risks (e.g., flood zones). Managing Two Homes Security: Install smart cameras and remote-access locks. If you rent it Hire a local property
📍 The IRS generally allows you to deduct mortgage interest on up to $750,000 of total debt across both homes.
Check local HOA rules on short-term rentals. While you can only have one legal primary
Include travel, utilities, and local maintenance.