I ask this question because I own a second home (not a rental property), owned for 6 years. I'm in process of my first STR purchase on a property approx 90 miles away from the 2nd home and 77 miles from primary residence. I heard somewhere along the way that there's limitations on the number of 10% down payment home purchases one can have. True or false? Is there anything (IRS, FHA, etc) preventing me from purchasing another home with 10% down? I'd use the property at least 14 days throughout the calendar year which I think is the minimum required usage to be considered a second home. Reason for 10% down is to have as little cash out of pocket as possible for next home purchase. Thx.

I'm working on first STR purchase. Considering cash down payment versus HELOC draw for the down payment. Why I'd use cash is to avoid the HELOC payback (fixed 7.1%, 10/10, not yet tapped) and increased cash flow (no HELOC interest repayment) for the STR. On the other hand if I used the HELOC for down payment I preserve cash for to scale in near future and for rainy-day funds. Any suggestions?

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