Thinking about buying a Lake of the Ozarks condominium as a rental property?  I have owned several condominiums as rentals myself and have knowledge of the pros and cons of "rental property" ownership at the Lake of the Ozarks. 

There are basically 3 ways to "own" a Lake Condo, at least as far as our friends at the IRS are concerned. 

You own it as a second home. 

You own it as a vacation rental.

You own it as a business.