Secondary/Vacation Home as STR

[Ivan May]

My wife and I are looking into purchasing a secondary home or vacation residence in the South Florida market. We live in Austin, TX currently and are looking to make another real estate investment.

My question is if anyone has purchased a secondary home with 10% down and utilized the property as a STR when not utilizing the property for self use? I've heard that this can be illegal or mortgage fraud, but have also heard that it is absolutely fine as long as you occupy the residence for a period of time. My wife and I work remotely and plan to spend any where from 1-3 months a year at the property.

Looking for any insight or to get in touch with some experts who are familiar with this.

Thank you