Is it a safe area? 

Are you in a safe, quiet neighborhood?

I do around 60% direct bookings and have a few steps to help establish against chargebacks and fraudulent charge claims. 1) We use Stripe to process payments, and they have a pretty solid fraud system.2) We use chekin.com to register guests to make sure they match the credit card. 3) We don't take day of bookings 90% of the time. 4) charge a refundable $250 security deposit5) you can also use something like Superhog or Safely for damage protection.We also have a rental agreement, which you can have written for you by a local real estate attorney.

The deal would have to be in a safe location and the operating activity in the business itself could be self-serviced.2.

Safe to assume $90-150k.Lower end is real number for 2-car garage to ADU in Sacramento Higher end is Bay Area with a few complexities 

You want safe buy treasury bills.  

It appears we're already on our way to seeing national rent controls which means LTR's may not even be a safe haven.

I was wondering how you navigated that in the states that follow the Safe act and require licensing.

Given the complexity and potential tax-saving opportunities in real estate, it's wise to consider hiring a CPA with expertise in this field.Many clients who work with non-specialists find that their non-real estate preparers lack the specific knowledge to help them minimize taxes through strategies like depreciation, the de minimis safe harbor, partial asset dispositions, 1031 exchanges, navigating real estate professional status, the short-term rental loophole, and more.If you are looking to qualify as a real estate professional, use the short-term rental strategy, or complete a 1031 exchange, I would without a doubt recommend working with a real estate CPA.

This gives them a hands-on role in the operational side of the deal, ensuring the property stays profitable and their interests are protected.Signing for a loan is a big responsibility, and sponsors need to feel assured that their investment is safe.