Hey, MadheshwaranFellow short term rental owner/operator here. 

Keep in mind, that is NET income, so with enough operating expenses, and depreciation, you might wipe out any income, and thus no UBIT, you will just need to run your numbers.

Further, if planned well, you can have lots of operating expense deduction.

I operate above board so their threats aren't concerning to me.

Those that have conservative debt, liquidity, and are strong operators - will capitalize. that is playing out in the MF syndication world big time right now.

I have watched some Youtubes and most operators say 3-4 bedrooms and 2 baths are ideal.

If you are a large enough operation where you have employees then it makes sense.

Quote from @Jonatas Melo: If zoning doesn't permit two units, then I wouldn't operate two units.

I've just watched a fractional deal hit the skids for a $1 mil condo on Hilton Head Island after 20 years of fairly trouble-free operation. 25% owner wants to be liquid, but the partnership doesn't guarantee liquidity.

@Tanya Maslach The operating agreement language will be drastically different for an LLC that owns/operates real estate compared to the operating agreement used for your media company.