You are correct that the tax treatment of Airbnb business (emphasis on "business") is distinct from other forms of real estate investment - and that you should get clarity about that to incorporate into tax planning and investment ROI analysis.

Is it a carriage house as opposed to a garage, and/or is there enough room to incorporate another structure on site, namely, a 3-4 car 'modern' monstrosity?

Two common techniques I have incorporated with clients is to use a double corporation strategy or the utilization of a discretionary irrevocable trust.

@Joel Fine its funny you ran those numbers because i was doing the exact same this week as i was breaking down a market i saw as profitable until i incorporated the cost of a management fee.

We own our companies in an incorporated company. 

He did not destroy the nuclear facility but incorporated it into one of my favorite amusement parks. 

Preparing Articles of Incorporation is the preparation of a legal document. 

And while your in-house team could certainly incorporate these devices into a routine inspection/maintenance program, that will come at a cost. 

I am incorporating these when I am evaluating deals.

I'm just wondering if there are other considerations that should be factored in, such as incorporating the depreciable asset of the apartment structure in MFH versus mobile home parks being primarily land, etc.