I'm looking at buying my first investment property, it will be a short term rental, but we need it to be on our taxes as a personal property. It's my understanding that we would need to live in the home for more then 14 days? If that is true am I able to put less then 20% on a conventional loan since tax wise it's not an investment property? Would a conventional loan even be the route for me to take?
If you want a low money owner occupied loan you need to intend to live in the property for 1 year and must move into it in 60-90 days.
I have never heard anything about a 14 day rule.
Some banks offer a “second home” loan for 10% down but they require it can’t be used as a rental.