Fully understand what they can do to you and what is required.

The prices I listed was to rent the garage as a garage, no bathroom required.  

I pass them on to my clients, as the law requires, but I advise them to ignore 99% of them.- You don't need to offer the full asking price as earnest money, but a large deposit definitely helps woo the seller into believing your offer is serious.

I have researched the Airbnb avenue in terms of what’s required, etc.

I'm absolutely not interested in leasing fast at all and I'm extremely picky about tenants and I do things like require a large security deposit (even for section 8 renters, I have three of them and love them), don't supply appliances, take my time doing background checks and arranging multiple calls/meetings with potential tenants. 

Also I would require renter's insurance for sure. 

Keep in mind that a rule of thumb is simply a rule of thumb. 

So I require skin in the game (average is 5% to 15%) to offset this.

I charge a really high fee and require the tenant to carry bite insurance.Inspections are done on a schedule and always recorded with pictures and/or video.

For short-term rentals (STR), the IRS requires you to prorate NORMAL depreciation based on the time the property is available for rent, not when you purchased it.