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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 asked them why but the agents I spoke with didn't know and I couldn't seem to find anything about it on the web. I was thinking that maybe it was due to many bad loans in Florida but without a definitive answer, it was hard to press on and look for another lender.

Does anyone have any experience with this? Oddly, if I wanted a Hotel-Condo in any other state it would have been no problem.

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