Especially when those 2nd, 3rd, + properties are being used as passive short term rentals. Observing the state of the housing situation “Hmm there aren’t enough homes for normal families to each have a chance, I should turn this extra property of mine into a vacation rental.” does this make said person a POS?
We have a second house (a trailer, really) and rent it to my mom for way under market rate. 100% of the rent goes to paying off the debt from rehabilitating the trailer and paying off her utilities. It’s not like we’re out here just raking in the dough, we’re just trying to keep my mom from being homeless. I know for damn sure we’ve got to do it, because the state is way happier spending its money bashing homeless people instead of preventing homeless people.
I own a 2nd property but bought it for my son to live in. I figured that if I was going to be providing that much financial assistance that I’d rather buy a condo than pay rent.