Last year, the city required a bank statement, which was not overly difficult for me to produce; however, this year the city of Chicago required either a homeowners exemption or a state license showing the exact address and unit for the listed AirBnB. 

This becomes EQUITY, which can be leveraged 4 to 1 to purchase income producing property.4.

Although taxes and purchase price may be more with a multi family the fact that there are multiple units for rent tend to be much more income being produced.   

., assets that tend to produce income for more than a year) are expensed over a specified "useful life." 

Deals come to you.Here is what a credible website that ranks #1 on Google produces.

The main house tenant did not like the STR part(after they already agreed to it), after the renewal we made both STRs and it's one of our best income producers(on a % basis).There's quite a few areas for this-- Virginia Beach, Garner, Zebulon, Pooler, Georgetown.

so they make their money regardless of what we produce.  

This months zip codes all produced an ROI of 7%! 

A few quick items:Red flags / tips:- Seller not willing / able to produce a written lease.

@Dave Foster points out other structures as well with more control, yet still produce attractive passive income.