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Originally Posted by AC2717
When you purchase to get a better rate buy as a second home, because if you have intentions of renting right off the bat they will know and you will be forced into a income property mortgage.
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As long as your intentions are to occcupy it as your second home for most of the year you can rent it a portion of the year without an issue with most lenders. Renting for 8-10 weeks out of the year would be fine. If you were financing it as a second home you could not use the potential income from the rentals to help qualify you for the mortgage.
I've gone back and forth with my wife on renting our place out, looks like we will take advantage of the 14 days the irs let's you rent without having to pay taxes and put some friends in it for 2 weeks next summer to help pay the tax bill.