Vacation Home Loan Guidelines

[Michael LemMon]

I am exploring the different types of loan options I have and had a question about 2nd home/vacation home loans...

I understand all the financial aspects but as far as the other guidelines go... I know you need to occupy the house for at least 14 days a year and no long term renters are allowed. But what if down the road you want to turn it into a long term rental property and not use it as a vacation home - Is that allowed? How long do you have to stay within the 14 days and short term rental guidelines before you can do as you please with the property? 

I am looking for any advice or experience with the matter ( I know it'll depend on the lender, but just a general rule of thumb would be nice). For example, with a FHA loan you have to occupy for a year before you can do whatever you want with it, what is the similar guideline for vacation home loans?

Thanks!