I can see some families wanting to use the open loft space as additional entertainment room, or using it as study/office space. 1 shared bathroom upstairs would be shared by 4 bedrooms (instead of 3 currently) - is that somehow less desirable and/or not add a lot of equity? 

Hosts are required to collect this tax from guests and remit it to the city or county monthly or quarterly.California State Income Tax: Income earned from renting out a property must be reported on your state tax return.

There are other REI or non REI strategies with less risk that can earn that much.  

By the end of my first year, I'd completed 10 deals and earned $73k.In 2018, I stumbled upon Todd Toback and his acquisition skills models.

Only some pockets of the beach are continuing to grow or more desirable than the majority of the market. 

I want to know if it is possible to use this home loan for STR’s since I know STR’s (Under Tax Code Section 469) is one of the routes any RE investor can take to reach “Real Estate Professional Status,” and so use passive losses from my property to offset active, earned income (My W-2 Job in the future). 

I do not desire to reward tenants for poor behavior.

Accepting late payments and fees as "additional income" is a fool's errand that will eventually cost you much more than the late fees will earn you.3.

Once you know your market well enough, your brain IS this tool for you because you can look at a house when you're driving down the street and have that gut knowledge almost right away if it's in a good area, what price point you'd need to hit to break even, how many beds are desirable, etc!

Nice work, you've earned $340k in five years.