In our culture, being able to brag about your kids’ academic achievements is a big deal.

Thinking out loud, I am pretty sure you can write off your home office if you primary utilize it for real estate business etc (which I do) so this whole conversation quite possibly is becoming academic.....Appreciate you sharing your thoughts and helping work through it!

I rent the apartment on the STR market during the summer and to visiting scholars during the academic term.

I rent by the semester to visiting scholars during the academic year and by the night to vacationers between semesters. 

@Bryan TasumiThe problem is that you see having your home foreclosed on as an academic, bloodless event, a puzzle to be solved, not a trial to be lived through.Here in Allegheny County in Pennsylvania, I followed the monthly sheriff's sales very closely for a period of more than three years, from 2013-2017.

We only have the apartment on the STR market during the summer months and rent it on the extended stay market during the academic year.

One thing that I would recommend, is whoever you put in your rental, make the lease revolve around the Academic Calendar, starting in August or September.

That’s why everyonehere agrees that the dilemma is academic if you do not havesufficient reserves set aside.Don’tforget, too, that liquid assets are usually more volatile in pricesthan illiquid assets.Don’tget too enamored with tax benefits, either.

They leased up the college students every academic year no placement fee.

A non-owner occupied house may be used as an STR for x years to pay down the principal, converted to 90+ days for Traveling Nurses, Academics, and later fully converted to a long term rental, etc...