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 make no attempt to rent out a property and use it for your own personal benefit, it is a second home. If you never live or even vacation in a property, but hold it for investment purposes, it is a rental home. This IRS gives you a little bit of leeway, as well. For example, you can rent your second home out for as many as 14 days a year and pocket the income without turning it into a rental property for tax purposes.