Question with Airbnb
Question,
I have a friend in Orlando, FL wanting to buy a townhouse 12 mins away from Universal Studios. He plans to rent it out with Airbnb. He is noticing that most investment properties ask for 20% down for a loan from the bank. He is thinking about saying he lives there sometimes (which he will) and buying it as an owner occupant in order to only pay 5-10% down for the property. Are there any stipulations that he needs know or look out for in order to not get caught with fraud? HELP!!