Net income would be the Host Payout of $541.26.But your true net is what's left over after deducting all expenses not accounted for in this calculation, such as utilities, internet, consumables, etc.

Yes In Gods BackYard (YIGBY) is an incentive program many states offer that allows churches and other religious non-profits to develop low-income housing on their land with speed and cost incentives.

However, this is a difficult qualification to meet, especially if you have a full-time job outside of real estate.Don’t worry if you aren’t able to qualify for REPS status, because there is another strategy that is referred to as a “loophole”, which is the STR strategy.Per Section 1.469-1T(e)(3)(ii)(A): there are six exceptions where your rental property income is not automatically considered to be “rental activity” and thus may unlock the door for being able to offset these losses against your active income.The average customer use is seven days or less.The average customer use is 30 days or less and significant personal services were provided (for example, daily housekeeping).Extraordinary personal services are provided, regardless of the duration of customer use.The rental is incidental to a non-rental activity.The property is available during defined business hours for non-exclusive use by various customers.The property is used in an activity conducted by an S Corporation, partnership or joint venture in which the taxpayer holds an interest.If your property qualifies by meeting one of the exceptions above, the next step is to demonstrate material participation in the rental activity.

That's non-negotiable.

There are quite a lot of repairs or daily requests from guests, more bookkeeping due to consumables, extra utilities, pool service, lawn service, internet, etc.  

When the lease ends you would just non-renew them.

He charged me a few thousand dollars for information that is repackaged and rebranded, because you can simply find it on the internet!

Study HOA documentation prior to purchase as rental restrictions can limit the usage as an income property, especially when HOA is non-cooperative.

You can find guidelines for determining material participation, the rules for determining who's a real estate professional and what's active participation, and the special rules that apply to the income and losses from a passive activity held through a publicly traded partnership (PTP) in Publication 925,"Basically, rental is generally passive unless you are a real estate professional, HOWEVER, refer to pub 925 for special rules.  

No internet = no tenants a lot of the times...Ensure them you'll leave them a fair reference if any future landlords contact you about their tenancy.