Determining whether the venture falls under a service or rental business hinges on the provision of substantial services; for instance, if a bed and breakfast service is offered, it must be reported on Schedule C, triggering a 15.3% self-employment tax.Moreover, personal use plays a crucial role in the classification of the property.

It's a scarcity play, I am a bit amused when I hear people still fight this argument.

One of those loopholes that lets you kind of hack your way into a REI portfolio if you play your cards correct.

The payment they make goes toward November and next one December…Now as the lender you can also say “we are only accepting full reinstatement” which is November through April and if they send money you can send it back or hold in escrowThis is why a servicer and attorney come into play because I have seen people go to foreclose and prior to foreclosure accept one payment and in that state you cannot then foreclose.

My leases tend to be sticky with tenants remaining for a few years without much trouble absorbing my vacancies so that plays into my decision as well. 

A financial planner, CPA, and others may be better resources for you in deciding which is the best play here based on the immediate health needs and life expectancy.Hope this helps. 

But proximity plays a role to.

@Seth KristianNot an attorney but fractional reserve lending has been challenged in the past as have mortgagesIn most cases unjust enrichment can come into play when it’s disputed but if you did not receive the $, you cannot say you don’t owe it back.If you want a crazier case read greenleaf case in MaineThat one is actually case law (this one Daly had it overturned).Free homes in Maine forMany if they knew about it.

Decide which game you want to play.

@Jeremy H. you seem to think that short term vacation rentals are a RE play when they are in fact a business.