Do mid term rentals listed through airbnb still need a separate, formal lease, similar to how a LTR would be set up.. or is the airbnb booking enough and provide enough safety to the landlord (e.g., tenant doesn't pay, destroys property, etc.)? 

Hi guys, I’ve bought my first STR home, and in 2 weeks got it furnished, met neighbors, found someone to “emergency manage’ and clean as I’ll be long distance, now all that’s left is my city- required safety inspection and a few more organizational things.

A whole life insurance policy isn't just a safety net; it's a powerful tool for wealth creation (ref: other rich people and lucrative institutions). 

There are other revenue streams we could add if we acquired a food and beverage license, sold merchandise, adding events during week (corp events), etc. in addition to the nightly rentals of the owner's cabin. 

Every submarket/micromarket is so unique, it's hard to know what your's can support when it comes to retail, and what it would be like to deal with those types of tenants, especially small business owners who may operate on a razor thin margin, like most food/coffee businesses do. 

Food for thought:FICO ScorePct of PopulationDefault Probability800 or more13.00%1.00%750-79927.00%1.00%700-74918.00%4.40%650-69915.00%8.90%600-64912.00%15.80%550-5998.00%22.50%500-5495.00%28.40%Less than 4992.00%41.00%Source: Fair Isaac Company

I would ask her why, chances are it is a safety issue on her part and she would feel more secure with cameras.   

Lastly, and just as important, you have to think of the safety of families which will take tenancy in your unit AFTER this tenant moves out. 

.- It's cheaper to fly friends and family in who know what they are doing, pay for their food and flight, and get help then hire it out.

Nice, how is the Food and Wine Festival going?