Not incredible, but fine.An out of state flip or flipping business, handled completely remotely? 

The nice thing about the arbitrage business model, is the companies usually pay you a monthly rent, and then they handle all of the AirBNB stuff. 

Operating within California means you’ll need to register any LLC conducting business in the state, regardless of where it’s formed.

I've picked up several really good deals because a tenant operator ran the business into the ground to a point where the property owners just wanted or needed out. 

The IRS doesn't trust you to report accurate information, so the 1099 from the property manager is checked against your filing.Any company that does more than $600 in business with you should issue a 1099.

I've never seen such a mismanaged business.

Would your STR business even exist without Airbnb?  

I use this property and another one as my business line of credit. 

In contrast, mid-term rentals are primarily driven by business necessity.

Highway hotel on busy 35 highway. 19 hotel rooms plus owners apartment, large laundry room with commercial washer and dryer, large parking lot, front desk, lobby, roadside sign.