I assume you are an accredited investors, but most funds accepts non-accredited investors.

Notably, short-term rentals are categorized as non-residential properties.

Build a team of people to help; an agent who isn't trying to talk you into every opportunity and knows how to analyze a deal; a lender who offers you all the possibilities; an inspection company that can get things done quickly; finally a property management company that comes with good referrals.

If you can't qualify as a real estate professional, your ability to use PALs to offset non-passive income (like your W2 earnings) might be limited.

Notably, short-term rentals are categorized as non-residential properties.

Plus a lot of general public started doing that which is the signal for the end... kinda like a good night club going down hill.Moreover, the tax implications for vacation home rentals vary based on how often the property is rented out and used personally.

**Please confirm this information with your lender, I used this loan a couple years ago, I am not sure if things have changed**

@Stephanie Gothart,It is possible to finance investment property in an IRA, however IRS rules prohibit you (or your husband) to personally guarantee the loan, therefore you must use non-recourse financing.

@Alexandra Coryell this is going to be highly dependent on your lender and your builder. 

You're correct that most are primarily working with non-investor clients.