Hi All, I've been looking at purchasing a vacation rental in Rincon, PR...a beautiful small surf community I've vacationed at for years.  

See IRC Sec. 1361:(b) Small business corporation     (1) In general For purposes of this subchapter, the term “small business corporation” means a domestic corporation which is not an ineligible corporation and which does not:         (A) have more than 100 shareholders,         (B) have as a shareholder a person (other than an estate, a trust described in subsection (c)(2), or an organization described in subsection (c)(6)) who is not an individual, (emphasis added)         (C) have a nonresident alien as a shareholder, and         (D) have more than 1 class of stock.The exempt organizations are generally nonprofit organizations and the exempt trusts include trusts owned by individuals. 

Quote from @Joyce C.: Have you talked to a lender?

@Laura C. have you talked to realtors, or have you seen any for sale homes in your are with ADU’s?

#c.-have

PM thinks it can rent out for $1650.So, kitchen/bathroom or mini split a/c?  Have

A,B or C  have different issue and clients.

@Cliff C. have you checked with Iberia Bank?

@Stephanie C. Have

I am currently trying to purchase 1 to 3 properties listed as PRA properties.