You'll want to read Maryland new requirements for landlords.https://dhcd.maryland.gov/TurningTheKey/Documents/HB693-Land...Thank you for the info, would you happen to have a link to the Maryland Tenants' Bill of Rights that we are supposed to attach to the Lease an addendum?

Happy to help—feel free to schedule a call with me through the link in my bio!

With this in mind, if you intend to leverage short-term debt (hard money), it's even more vital that your underwriting is thorough and that you have the correct systems in place to tackle potential issues.

Residential investing is not rocket science, knowledge is not the issue: there are many good books out there that walk you through every detail you need to know.

Apologies if it is long, but I have been going back and forth on this issue for a while and would like some input. 

It's a very old house but newly renovated so there has been some maintenance issues because of the cold and poor insulation.

If you treat the renter (resident) well, provide a well-kept home that you service regularly, and stay on top of any maintenance issues, a resident will likely remain in the house for many years. 

The bigger issues that need to be addressed by the operating agreement are how you deal with disagreements. 

Would you mind sharing your Airbnb link?

I think there are liability issues with putting some kind of booze out.