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Last year I was looking into buying what was called a "Hotel-Condo" property. Since I live overseas and will probably be over here for a number of years, I thought about buying what amounts to a hotel room. The deal was that I could use it for up to 6 months out of the year (no more than that) and the hotel would take care of renting it out the rest of the time. The deal seemed pretty good to me since we plan to spend at least 4 weeks per year in the area we were looking at and this way someone else handled the rental and maintenance issues.

Turns out the mortgage lender we use will not do a mortgage for that type of property in Florida.

I don't have experience with "Hotel-Condo" per se, but it sounds similar to buying a condo and putting it on the vacation rental market with a management co handling all the details. You would get an investors mortgage for that kind of property. I will send this on to the mortgage person I most respect on the Real Estate Investing board and see if he can't drop by to answer your question.

When it comes to vacation rentals, FL can be tricky. From what I understand most municipalities require licensing, and charge a short term occupancy tax on rentals of a long duration relative to what other states require. Also, if you are going to use your property more than 2 weeks or 10% of the time rented, which ever is greater, you will lose many of the tax benefits of owning a VR.

Thanks for posting!

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