Determining whether the venture falls under a service or rental business hinges on the provision of substantial services; for instance, if a bed and breakfast service is offered, it must be reported on Schedule C, triggering a 15.3% self-employment tax.Moreover, personal use plays a crucial role in the classification of the property.

Determining whether the venture falls under a service or rental business hinges on the provision of substantial services; for instance, if a bed and breakfast service is offered, it must be reported on Schedule C, triggering a 15.3% self-employment tax.Moreover, personal use plays a crucial role in the classification of the property.

Decide which game you want to play.

There may be other things I'm unaware of that come into play as well- taxes, liability laws, etc.  

Just realize you are playing a game that can come back and bite you.  

He plays for his school.

Once you nail down how to play in the same market then you can get creative to find new marketing methods that are unique (or even guerrilla tactics).Start by asking people in your network that you think would likely fit your target audience what they do when they're looking to book a multi-family vacation home.Qualitative research then turns to quantitative, so gather ideas from your wealthy friends then do some try them out and be sure to ask any leads/guests "how did you hear about us?"

My opinion would be to watch this play out.

A lot of homeowners like to play lawyer and think they can avoid any liability by having an all-inclusive disclaimer and rental contract.

One of the applicants is a Section 8 applicant in the state of California.(1) I want to be conscious when screening tenants, I am wondering should I have them all apply at once and play $40 for application fee, knowing that only 1 tenant would be able to stay?