You can type in the properties address and it pulls data from airbnb and other short term site to give you from what I've read a pretty accurate estimation of Occupancy rates and income.

From a bookings standpoint, at a minimum you should be on both sites.

If your startup costs are over $55,000, you lose the immediate deduction, and the entire amount would have to be amortized over 180 months (15 years).Here’s an example to clarify:•If you spend $7,000 on startup costs (such as attending BPCon, legal fees, and market research), you can deduct $5,000 in the first year and amortize the remaining $2,000 over 15 years, starting when your business is officially active.

Here are some tips for networking and making the most of your account. 1) I'd fill out your profile fully before you do anything else!

With our investing in lower-priced properties, we're far from being immune to these tax hits but can better absorb them with higher cash flow than most site-built single family homes.

Starting smaller is fine, but the unit has to be spa like or you will likely fall victim to pricing wars or get lost in the booking sites algorithms. 

I'm considering renting out each bedroom separately but want to get some tips an advise on leases, check-in/out, etc.

Feel free to reach out if you are in Indy or have tips/deals/connections in the area!

How does this work? I overheard someone talking about it now I'm interested in learning about it. How much do I need to start off?

@Mike Farr I have not used any sites like been verified however you can go to the county clerk's website for the county where you are buying the property and search the owner's name and that will pull up a list of any liens that are on the property.