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Updated over 3 years ago,
Financing Out of state, Short Term Rental in Florida
I live in Colorado and am looking at the west coast of Florida for STR property (Tampa to Sarasota region). I would like to finance it as a 2nd home/vacation property to use the 10% down. I would plan to stay in the property a couple of weeks out of the year and use it as a STR the rest of the time.
Are there restrictions to using this type of loan and hiring a property manager to turn over the property? Or because it's a 2nd home loan, do I have to manage it myself?