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- Purchasing a 2nd home or vacation property as a rental is a great way to invest and diversify your portfolio. Before becoming a landlord make sure you understand not only the benefits of rental properties, but also the risks. Allison and Aaron have owned and self-managed dozens of properties that have both long-term as well as short-term seasonal rentals. Their experience in buying, selling, maintaining and marketing rental properties will prove useful to anyone looking to expand their real estate portfolio.