The key factor is ensuring the property qualifies for favorable tax treatment by adhering to IRS rules regarding short-term rentals and material participation.For the 7-day rule, the IRS requires that:The average guest stay must be seven days or less for the property to qualify as a short-term rental.If the average stay is 30 days or less, you must provide substantial services similar to what hotels offer, such as daily cleaning or concierge services.Regarding material participation, to further classify the income as non-passive, you must meet one of the following criteria:You spend more than 500 hours actively managing the rental in a year.You manage the business yourself and spend at least 100 hours, with your involvement exceeding that of any other person involved in the rental.Please note there are actually 7 ways to qualify, the above two are the most common.

It took me years to find a great cleaning crew, for example.

Install central air and the next thing this guy is likely to complain about is his high electric bill.Keep in mind that in many states a landlord must provide reliable and working plumbing, electrical and heat. 

Im not a college rental investor, but if it were up to me I would target an area that is safe, clean, high traffic, and a large university. 

Hey BP family,Know of any good GCs, or specialty trades [flooring, plumbing, electrical, etc.] in  Toledo? 

They are friendly tenants, They call us immediately when there is a problem, and every time either of us is over there, the house is very clean and there are no odors...

Hey Amanda, In this case, you can likely deduct the cost of cleaning the oil stains from the security deposit.

Safe, clean, etc.

They Will keep your deposit if you do give 30 day notice and hire people to clean. 

Hello All, i came across this college town property - it is a value add opportunity. 14 Unit Complex - 12 2bed/1bath & 2 1bed/1bath * Separate electric and water meters.