I just bought a condo that will be used as a rental property. I have a separate home nearby and not intending to live in the new place at any time. However, I would like my elderly parents living abroad to occasionally stay in the rental property (like 2 months per year). Do I need to report that time as personal use and reduce expenses accordingly? If that is the case, can I rent the place to my parents for a nominal fee (like $200/month) so that I don't have to report that time as a personal use? Thanks in advance!
