And you can do it with little cash, 5% down conventional is better than 3.5% FHA.House hacking also gives you a chance to cut your teeth in all major skills: analyzing deals, buying process, financing, working with contractors, advertising for rent, background checks, property management.

Electric: is the easiest to split, but may require holes cut in walls to separate the units.Gas: gas lines aren't as flexible as wires, but it can usually be done affordably.Water: most cities will NOT install additional water meters on a property.

(For example, when I confirm a booking, I repeat all the disclosed guests and dogs or put in "zero dogs" and request any changes to those details be made in writing in advance so everyone is clear.)

As long as your intentions are clear and honest, you should be fine.

Implying bait and switch is pretty bold, please provide specific examples OR possibly consider not implying this about a loan shop that you clearly don't know much about. 

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

I've stuck with the tried and true reasons I've heard to keep my search ranking high (quality photos, stellar reviews, updates to my listing) and that helps but in slow season, when I'm not willing to cut my rates as much as some of my competitors, it can be a ghost town.  

Am I not cut out for this?

Clearly an opportunity to invest in a more landlord friendly state than NY.

What would a fair cut of the profits be?