Buying a second home

[dino]

Hi,
I live in the midlands but I work 2-3 days each week in Dublin City centre. I am in the process of inheriting an apartment in another part of the country. This apartment will have no mortgage and will be worth around €180k. If I rent this out I will have to pay over 50% in tax so I'm not sure if it's worth keeping.
I am thinking of selling it and buying an apartment in Dublin to use when I'm working there or for occasional weekends. I was wondering how this would be treated? Will I be able to do the rent-a-room scheme? I know I will have the usual costs of property tax, insurance, management fees but is there anything else I will need?
Any advice appreciated.

 

[Brendan Burgess]

Do you own a property in the midlands, or anywhere else, at present?

 

[dino]

Yes, I own my home in the midlands an I have an investment property also.
I would potentially be buying for cash with no mortgage. I currently stay in hotels 1-2 nights each week and would prefer a crash pad in Dublin but I don't want to be badly penalised for tax, etc. I assume management fees, property tax, and utility bills would be the main expenses.