Here is the summary if you are interested.In this case, the main question is when did the investor completed his start-up phase and became actively engaged in his business.Whether a taxpayer is engaged in a trade or business is determined using a facts and circumstances test under which courts have focused on the following three factors that indicate the existence of a trade or business: (1) whether the taxpayer undertook the activity intending to earn a profit; (2) whether the taxpayer is regularly and actively involved in the activity; and (3) whether the taxpayer's activity has actually commenced.

Additional concerns include area study, property inspection, knowing local market circumstances, and legal adherence to Philadelphia's landlord-tenant rules.

@Navjeet Singh it sounds like you're making a big mistake and you used a very shady agent (unfortunately it is common in this industry.

Unfortunately. haven't had much success, as I have yet to receive a direct booking request.

Unfortunately we don't own a home in the US.

Unfortunately, an HOA can impose new rules without your vote.

Unfortunately, the only way i can think of to do it freely is on Bigger Pockets.

But managing 4 separate leases, needs, personalities, life circumstances, turnover rates, etc, will be a lot more work than renting out the whole house. 

Unfortunately, he made the common mistake of thinking he could borrow his way to wealth.

But unfortunately, not everyone can be convinced.