You are finally at that point in life when you can afford a vacation home. So, you acquired one in Vermont on a lake so that you can rent it out year round: Winter and late Spring for skiing, Summer by the lake, and Fall for foliage season. You need to be at the vacation home extensively for repairs. You have a long long list of relatives you rarely hear from who want to spend time at your resort.
What is the impact of all these dead-beat relatives occupying the place?
What is the impact of spending a lot of time making repairs while at the vacation home?
What is the impact on deductibility of the vacation home expenditures for interest, maintenance, common charges, snow removal, rental agent commissions, etc.
What should you do?