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You are able to purchase a home and consider it a "second home" as long as the property is not rented out during the time you are not occupying the property. A second home can be considered if you currently rent the home you are living in, the problem being convincing a lender you are purchasing a home out of state as your "2nd Home" or "Vacation Home". Usually in considering approving a property a 2nd home the lender will want to see the home located in an area considered to be a vacation destination. ie: Live downtown Los Angeles, work in Los Angeles, rent in Los Angeles and buy a vacation/2nd home in Big Bear or Lake Arrowhead. You will still get the tax benefits of a second home if it is really your second home. Unfortunately, if you are planning to buy a home, rent it out then move to it, it is considered an investment property. Hope this makes sense.
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