If this is "truly" a vacation rental, then that means you are providing your short term tenants recurring services that are "directly beneficial" to those tenants. (housekeeping/maid services and the such). That makes it a SCH C business. A SCH C real estate asset is depreciated over 39 years. Period. End of that story.
Otherwise, if this is a SCH E rental and it's physically located in the United States, it gets reported on SCH E and is depreciated over 27.5 years. Period. End of that story.
If this is a foreign rental property that qualifies as SCH C income and is reported as such, then if it was placed "in service" in 2018 or after it gets depreciated over 40 years. Period.
If this is a foreign rental property that qualifies as SCH E income and is reported as such, then if it was placed "in service" in 2018 or after, it gets depreciated over 30 years. Period.
