Quote from @Riggies B tang: I am looking to get into AirBNB in the Cleveland market as well but not sure which part of the city is good for this model.

Great you take over a loan but why?

Subtract #2 from #1.This will give you a very rough number on which you will owe taxes.

There is a cost to prepping the home for burning which includes removal of all hazards and permits.  

@Hedman Maximus too many investors worry about DIY pennies, while losing dollars - which it seems you may be doing.Why can't you hire a PMC to handle the properties for you?

Personal Liability: For claims due to Bodily Injury or Property Damage that you becomeLiable for and which is covered under the policy.

Interest income is interest income, unless you decided to roll some of the current cash into a self directed IRA at which point your interest income would be deferred for a later time and allow your funds to grow tax free.

With that being said, I'd go with @Michael Smythe said as far as which kind you should buy.  

What was ABNORMAL were the interest rates for the previous 10-15 years which were unusually low. 2.

What made you interested in investing in this type of deal?