What is a second home?
A second home is a property that you occupy for part of the year while maintaining a primary residence (where you live for most of the year). Second homes are often used as vacation homes, but can also be properties (like condos) in an area that you regularly visit.
According to the IRS, second homes can be rented out to generate income as long as you live there for more than 14 days a year or for more than 10% of the total days you rent it to others. This allows you to qualify your property as a second home rather than an investment property.
