Do you have someone that manages it all including bookings and customer service or just specific parts like cleaning only? 

It's based on the purchase price and will not include any improvements, reno, or increase in value since the purchase.

In the spring you can list it for market rate and have better marketing/screening strategies in place.HOW TO SCREEN APPLICANTSI recommend you include some of your key qualification criteria in the advertisement.

Lot rent is $365 and includes water.

And those also only have a limited ability at best to generate a balance sheet, which you generally want to include on a 1065 return.came here looking for answers to exactly this question, and David is correct re: why.

That said, I have a nice stream of passive income (including math freelance jobs to keep me busy), and a lot of time on my hands, as well as experience with materials and vendors doing home renovations.

I need advice for creating the lease to include guidelines and wording on sharing responsibilities in the common areas. 

Quote from @Collin Hays: I don't manage short-term any more, but can't you include this in a written rental agreement that the guest signs at the time of booking?

Apply the 70% rule to determine your maximum allowable offer, then negotiate and get the property under contract, ensuring your agreement includes inspection and financing contingencies.Arrange professional inspections to uncover any unforeseen issues, using these findings to negotiate concessions or confirm your repair budget.

You would work with other lenders and do a participation agreement, but many of them will require you to put in 20-40% of the money, have a net worth of 2x what they are including as they will want you to buy back the loan if it goes into default.3.