There is an alternative to buying (or building) your own log home and renting it out: fractional ownership. This tactic, which pools together four to six owners to go into a single property together, can be an affordable alternative—especially for those who aren't comfortable with strangers staying in their homes.
The concept is similar to traditional timeshare arrangements, however with fractional ownership, the owners actually own real property—not just time. Plus they often have a prior relationship with the other owners, making them feel more comfortable about the people who stay in their home when they're not there.
"Where a timeshare is an alternative to a hotel stay, fractional ownership is an alternative avenue to second home ownership," says Dan Bruder, vice president of sales and marketing at the Roaring Fork Club in Basalt, Colorado, which offers fractional- ownership properties. Typically divided into fourths, eights or thirteenths, owners buy their pieces of the vacation-home pie from a management company that handles scheduling and maintenance. But be prepared: Fractional ownership can be substantially more expensive than a timeshare, sometimes running into the hundreds of thousands of dollars.