Real estate is an increasingly popular way for dental professionals to diversify their income, and vacation rentals are often seen as an attractive option. Purchasing properties to operate as short-term rentals can provide new revenue streams, but it also comes with important tax implications, management challenges, and potential pitfalls. Get ready to explore the financial opportunities and risks to determine whether vacation rentals fit into your overall investment strategy.

Key Takeaways:

• Financial opportunities of vacation rental ownership
• Tax implications and reporting requirements for short-term rental income
• Common pitfalls and management challenges for property owners
• Practical strategies to evaluate whether this investment is right for you

Gain a balanced view of both the rewards and risks to help you make confident decisions about diversifying income beyond your practice.