How do you guys straddle the definition of investment property and second home?

[Kyle Mitchell]

I am about to purchase a home in a popular vacation area. My family will get several weekends of usage out of it, but most of the time it will be used as a rental.

Mortgages on second homes are a full two points better than an investment property. The mortgage rules say (as I understand) that in order for a home to qualify as a second home, the owner needs to occupy it for more than 14 days. Any fewer and it is an investment and not a second home.

The IRS rules for being an investment property (and unlocking most of the tax advantages) are that the owner cannot stay in the home for more than 14 days. So the mortgage companies and the IRS set the exact same threshold for being a second home or being a an investment property.

My CPA however has advised me that there are caveats for doing repairs, or periodically visiting to inspect it, that allow you to exceed the 14 day leisure limit. So I could satisfy the mortgage company that it is a second home for the superior rates by exceeding 14 days, while still satisfying the IRS that it is an investment property.

Are you guys getting investment loans or second home loans for your AirBNBs?