My wife and I spend a lot of time together, we take vacations regularly, and I prioritize my health by working out 3–4 days a week and getting 7–8 hours of sleep most nights.

My goal is to live in the home during the winters, maybe 3-4 additional weeks for vacation, then rent it out to help cover the mortgage the rest of the year.  

I am looking at purchasing a vacation rental in Costa Rica and I have a couple of questions in regards to that.  

Currently, we own one vacation rental in Duluth and one college rental. 

A vacation rental could generate higher returns but requires more active management.

Nowadays, people from all over the world vacation, work temporarily, move (with or without their business) and retire in the Costa del Sol.

Forget the course and put that money on a quality vacation short-term rental.  

Let the tenant vacate, and you have one month to find a replacement before you incur any losses.

if you're in St Pete frequently you'll need to turn some of those vacation trips into work trips - networking, building a team, and trying to find a distressed property.but the trick is then going to be moving quickly if either 1) a distressed property hits the MLS (unusual, but not unheard of) or 2) a distressed property comes to you another way (from your network, from a wholesaler.)how you will move quickly enough to lock it down and buy it, if you're in RI? 

Exemptions to getting a 2nd FHA loan per HUD handbook are:-Job relocation 100 miles away or in another state-Increase in family size-Vacating a jointly owned home (ie - divorce or the like)