I use the terms -  "corporate furnished rentals",  "short-term rentals",  and talk about my target clients-  Business travelers, traveling nurses, traveling healthcare workers.#6  Knowledge -  Know why STR is better for the landlord than traditional rentals.   

@Tonio PearceYes you should create a business plan.

Quote from @Jon Rob: Quote from @Chris Seveney: Quote from @Alex Scotte: @Chris Seveney and @Don Konipol, that would be great if you know where to invest that would bring more money than you would save by paying down the mortgage.

Just my personal opinion - get a mentor or a person who already has good experience running STR business, preferably in your area (but not 100% required). 

When the whole covid shutdown occurred, I dropped out of college to help my father's service business maintaining and remodeling residential and commercial buildings.

I figure this would be really helpful for anyone in our business.

Lau, generally if you are financing with a commercial lender- we lend for business purpose only and a rental property would fall under that category.

It's a business - acquiring/building, managing, and growing a business. 

I also own a co hosting business but my rentals are in FL and TN. 

I don't think we have anything cooking right now in WI, I'll bring this up in our next legislative meeting.