Because of the location, this is permissible per county regulations, even though the residential neighbors are having a tough time with it.So, we have to move and convert our home into a STR (we cannot sell the property because it is 2 homes and an elderly family member lives in the other home and cannot move).  

The subsequent item you reference is "self-employment income" for purposes of self employment tax under Sec. 1402. 401k has its own definitions and regulations, which are related to - but independent of - those referenced. 

Water Supply Company is private and owner doesn't have money to build more wells and is already in some big dispute with state regulators.   

Is property management regulated by the real estate commission in CO? 

Create your own list of rules and regulation.

Be sure to check with someone that knows the local STR rules and regulations to make sure you can legally do it. 

Operating in Philly can be a big problem if the laws and regulations are not followed to a T.

The regulations vary by county so, so yes- do your homework. 

As to building on industrially zoned property, the local zoning regulations will dictate this answer under the allowable uses.

MI has a lot of potential for STR's but regulations are changing rapidly.