I would also open up the Airbnb to your current tenants and make sure they are on board.

I have a section that lists tenant responsibilities, I go over such items during tenant on-boarding, and the lease has two clauses, one that they are responsible for all repairs under $25 and the other that they will be billed for tenant caused damages- which sending a plumber out to unclog a toilet would fall in.

I'm on board with that, @Michael Ealy.

@Paul Lechuga, if you have your Lender on board with your intentions first (which I recommend), I suggest finding the deal before deciding on how to finance it.

If that meeting goes well and everyone is still on board after you have narrowed down the numbers, I would write up an actual business plan including market research, detailed pro-forma property analysis including all projected expenses minus expected rents to determine potential monthly cash position on a few property examples using actual active listings, determine buying criteria, nail down personnel descriptions to define who will do what, plans B, C and D if plan A goes awry, exit strategy, profit split, etc.

@Jennifer LeFor a property this size, unless it a value add component in terms of the additional land where you can develop additional lots, it's will be too expensive to bring the property on board. 

I am finally starting to get her on board with me, she wasn’t happy about me investing in rentals and thought it was too risky.

Challenges were getting my wife on board with the idea of using this property to get more properties, was able to overcome that using the math and calculators.

I can not get my wife on board with the ideal.

Keep in mind if you're bringing on board passive investors, your offering may turn into a sale of security.