Cost basis for second home turned rental

[Rob Myers]

I purchased a property in 2008 for the purpose of having a 2nd home / vacation home specifically for our family's use (not rented).  As we found it more difficult to get to the house on a regular basis, we made the decision to convert it into a rental last year and brought in a tenant.  My question is in regards to how to establish the cost basis for the property.  I've read that for primary residence turned rental, your basis is the lesser of the cost paid for the property plus capital improvements or the fair market value of the property.  Does this same calculation apply to a 2nd home?

Thanks in advance for the help.