Purchasing a duplex/triplex to Airbnb

[Matt Loewenstein]

Hi everyone!

I currently am working as an engineer, and have a strong interest in real estate investing.  I am currently living very close to Philadelphia in New Jersey, and would like to purchase a home (potentially a duplex or triplex) to airbnb either in Philadelphia or New Jersey. Does anyone have any suggestions or tips that may not be self explanatory to get started?

Much appreciated!

Matt

[Tyler Work]

@Matt Loewenstein I found this info for Philly.  Looks like you can't have more than 3 unrelated guests staying in a home at any one time.  This could be a real deal breaker if this law is enforced and will limit your ability to make money.  Also make sure you factor in 8.5% hotel tax as well as any applicable state taxes.  

http://www.phila.gov/li/PDF/Limited%20Lodging%20Information%20Flyer.pdf