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Updated over 2 years ago,

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Adam Graziano
5
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5
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Can I cash out refinance a STR setup as a second home???

Adam Graziano
Posted

I am researching purchasing a property to be used as a STR (page county, VA). I have been advised to purchase it as a second home before putting it into an LLC to do the renovations and listing it for rent. I plan to use platforms like Airbnb, VRBO, etc to market and rent the property.

Will I still be able to write off the expenses associated with the remodel if it is purchased as a second home??

Will there be any issues doing a cash out refinance to put towards another property in a year or so? 

this is my first attempt at a short term rental, and advice is appreciated.