If your vacation home happens to be located near a major event — like a PGA golf tournament or a big multi-day concert — you may be able to rent the place out for a short period even at high rates and pay zero federal income tax.Tax-smart year-end strategy: The more rental days between now and year-end, the better — as long as they don’t exceed 14 days for the year.Rented more than 14 days with substantial personal useYour vacation home falls into this category if you rent it for more than 14 days during the year and your personal use exceeds the greater of:(1) 14 days or (2) 10% of the rental days.

There’s definitely a market to get into private ownership of golf courses particularly if you can turn them into destinations for events and weddings to boost after hours revenue and build up your tournament schedule.The new buyers of our town course have set a 5 year plan for generating more business, attracting more tournaments, and hosting more small events by having a functional restaurant with good food for the first time in years.

Sports - think little league traveling teams (Grand Park Sports Complex Westfield) as well as college and professional (hosting the Big Ten and NCAA tournaments last spring is going to bring many of more of those types) - I have heard of some paying off their mortgages for the year just from income in May for the Speedway. 

Long Pond, Lake Mascuppic, dont forget not to far from there about an hour to hour/half you have NH - Lake Winnipesauke and surrounding lakes which is a Summer and Winter attraction due to the Summer lodging, boating, Jetski's and the Annual Huge Ice Fishing tournament.