Lakehouse as next investment?
I am a mom of three young kids and just starting out in investing. I own a SFH in my town that cash flows well, and now a six plex in a town nearby that also has great cash flow. For my next property, I was considering a lake front house to use for personal use sometimes, but also as a short term rental. I understand it may not cash flow as well as some other properties, but being that we have kids and want a vacation home anyway, I thought it may help offset some of the cost. My questions are:
1. Can my LLC purchase the property if we don't use it too often for personal use (***will discuss with my CPA!) How will my lender treat this?
2. For those that have done this, please let me know the good, bad, and ugly. I imagine dealing with the turnover and cleaning is an issue, especially if not located in the same town.
3. For those with lake homes: do you find that some people are interested in renting during non peak times? Trying to estimate the cash flow during the winter months. I imagine this has a lot to do with what else the town has to offer beyond lake life.
Other thoughts???