For me, annual leases for students was a nice middle ground for me where it was still a year lease and there is turn over, but not at the frequency of a true MTR.

There are a number of factors to consider, including the volume/frequency of flips, but the IRS generally considers this to be an ordinary business (not investment) and subject to self employment tax (roughly 15% in addition to income tax). 

Frequency, frequency, frequency.Instead, focus on buying a specific show...say, Seinfield.

Thanks @Adrie Moses-bailey The timing/frequency of the distributions generally does not impact your tax situation with a partnership.

It still happens but just at a far less frequency...as in one per day in an area with 18 million residents and perhaps one million are qualified buyers/investors/lenders on any given day as your competition. 

But if you're not analyzing with a high frequency and submitting offers you aren't there yet. 

Factors like the frequency and duration of business use versus personal use, record-keeping, and proper documentation become pivotal in determining tax deductions and minimizing potential tax liabilities.

@Christian Hutchinson, I totally see that, I will tell you that could happen in Royal Oak as well (but I'm sure not the same frequency), I've been thru what you're describing as well, the good news is that the landlord is in total control, 2 key things: strict rules and make your house very nice, so you won't have cheap pricing, all the shady characters that used to inquiry about my house don't even bother anymore, they get scared by my strict rules, they're looking for the newbie host that has no rules. 

He might cook every day or once a year, he has the right to use those items as much as he needs for 4 years the frequency isn't your concern at all and not applicable here.  

Ohio House bill prompts Akron to draft its own ordinance City Council decided the legislation was necessary after the Ohio House of Representative introduced a bill in February to prevent municipalities from prohibiting short-term rentals and regulating the number, duration, or frequency of rental periods.