Even our short-term rentals had a rental agreement with policies for payment, penalties, rules, etc.Here's something from AirBnB regarding rental agreements: https://www.airbnb.com/help/article/465 

On my end, I set my payment schedules, how it will be delivered, level of work I expect, etc.

Our mortgage payments started at $2300, but due to increasing property taxes and insurance, they have alarmingly risen to just under $3300.

I know all about fees, charges, payments, etc.

I bank and collect rent payments through Baselane and it’s a great way to set the rental terms and then forget it since the system generates invoices monthly. 

The steps are the same, utilize credit cards, take out small loans, and make sure to make all your payments on time. 

And in the end didn't make me money and the loans I had on them actually prevented me from getting additional loans on other better deals.Anyway, here are the specifics:1) purchased 7/1997 @ $80k, $500 down payment, cashflow appx $150/mth as long as there were no major repairs or maintenance items, great % returns but very little $ returns.Sold 5/2016 @$67k, after about $7k rehabwas about $250/mth cash flow at time of saleOh, and it took many months to sell, therefore costing me additional holding costs with no cash flow2)  purchased 9/1998 @ $71k, Similar and same area as #1 - $500 down payment, cashflow appx $150/mth Sold 4/2016 @$72k,after about $9k rehabwas about $250/mth cash flow at time of saleand also took many months to sellFor fun, I just looked up their zillow as of today and 1 recently resold for $85kNow, today, there are a lot more resources to easily research market areas, etc, so I now do more research to find markets with more demand and growth potential. 

However, If you use a bank, plan on a down payment of 20%, that's $80,000 down plus about $5,000 in loan fees and $3500 in closing costs.

Get some solid numbers on what a payment would be. 

They didn’t go as strict as they threatened, at least not yet…https://www.atlantaga.gov/government/departments/city-planni...2 properties maximum and the first one must be  your primary home… so be prepared to move there and pay state income taxes  https://www.atlantaga.gov/home/showpublisheddocument/54610/6...you and your landlord will have to get this form notarized.Please just make sure you have a plan to keep making rent payments after your short term rental plans are banned.