Quote from @Monish Anand: I'm a fan of the low prices and my plan is to STR since I currently run a short term rental business.

Litigation is always a business risk, especially in a business facing the general public.

Research competition  and determine their profitability and how much they spend on marketing, how many employees they need, and how much time the wholesaler needs to devote to the business.  

I also have tenants set up monthly on Lolo Gifts, which costs me 1.50 per tenant per month, and sends them a little monthly treat from a local business in town.

Its a business decision, imo.

I did not want to incur the cost but I figured...that maybe....just maybe....sometime in the near future us ADU home owners may be able to rent both units....like a duplex.At that point it will be worth it to let the tenets be responsible for their own bills.Not saying that other ways are bad...they are actually very cost effective if you are living there...but what about as you scale your business and move onto other properties.This of course if your city will allow you to rent both units...the city I am in is tough but things can change as more pressure is being put on affordable housing.Once again...not saying any way is right or wrong...I just did it this way for the reason I just mentioned.Thank you....

Hey Steve - great business!

Because I benefit from more business oriented books I also like Who Not How and Gap and the Gain by Dan Sullivan and Ben Hardy.

You do not need a license (like a brokers license) to manage your own properties.However, check your town to make sure you don't need a business license.In Tacoma, WA, as an example, even if you have a property manager, the owners themselves also need to have a Tacoma business license.If you hire a property manager, they will need a brokers license to manage other people's properties.Good luck!

Rental property management is business, not personal so always keep a business relationship with your tenant(s) - no friends or family wanted.