Countries that actually refer to themselves in some way as social democracies or democratic socialist nations in their respective constitutions include Bangladesh, India, North Korea, Portugal, Sri Lanka and Tanzania.
Second Home. To qualify as a second home, the property typically must be at least 50 miles from the primary residence, and it cannot appear that the real estate is being purchased for rental investment purposes. Investment Property. A property that is not occupied by the owner and is typically utilized for rental income purposes.
If you aren't going to live there, it isn't a second home, it is an investment property. Your mortgage rate will be a little higher than for owner-occupied, but the interest, maintenance, depreciation, and fees will be tax deductable. See tax publications #527 and #946.ppreciation-wise that has been a good investment and the rentals have carried the property most years. It has been less trouble than the long-term rental homes we owned in Illinois. (Talk about expensive real estate, condos out there are now selling at $900 per square foot!