Investment property v. Second home

[Pooja Thakur Rahman]

This is rookie question, I realize. 

We are looking to buy our first investment property in an area we like and will likely retire to in a decade or so. In the interim and regardless of ultimate retirement plans, we plan on going the airbnb, depreciation/bonus depreciation, route with this property. 

As it relates to depreciation and accounting, does it matter whether the loan/financing is done as a second home v. an investment property? What is the upside or downside to either? 

I'd want to transfer the property to an LLC down the road so perhaps it's best to just go the investment property loan route. Just thinking out loud and yes, need to finalize a CPA firm in the next day or so.

Thank you. 

[Anthony King]

@Pooja Thakur Rahman second home mortgage is 10% down. Investment mortgage is at least 20%, Fannie/Freddie 25%. You can quit claim it into an LLC after closing and run it as a STR starting day 1.