@Anonymous_ wrote:
@TomD8 wrote:
Fair rental is the key without which the real estate is deemed to be for personal use. If the property owner has 365 days of personal use, that property owner essentially just has a second home.
I think this only applies to rental to an owner or family member.
It is not personal use if an owner rents below FMV to an unrelated person. That is where the expense limitation comes from that I was thinking of. I was incorrect in this situation where the tenant is related to the owner, but I believe I would still be correct in the situation where the tenant was unrelated to the owner, based on the quoted regulatory language.
