Vacation rentals are tough!

There would never be an issue there to stop STRs as it is a vacation resort.So, if you are looking at a condo, make sure that you do your due diligence.

Hello all,I have been contemplating getting a vacation rental but biggest issue would be financing.

Will use as a family vacation house, and rent it out STR or MTR.

Will use as a family vacation house, and rent it out STR or MTR.

I'm thinking of a short term vacation rental (that'll just be about patching up a family property that happens to be in a heavily touristic area) and then in the future...

I have never owned a home before but I’m considering buying a place here, living in it while I’m here, then short term renting it and using it as a vacation property when I move back to Canada. 

This was a property in an area my family loves to vacation in because of family ties to the area.

A little goes a long way you only need 5-10% down for a New primary, 10% for a Second/Vacation home, and 15% down for an investment home even up to 4 units.The home you are planning on selling if you rent it out you can use the 12 month lease/rental agreement to offset (Wash) the mortgage payment if you take cash out so that you do not get hit on the new purchase against your DTI.

But to touch on some of your points:-Costs to build are probably some of the highest in the nation, other than maybe Telluride or other vacation destinations.