I run my entire "empire" using Excel/Sheets for tracking expenses, Apartments.com for online payments, MysmartMove for credit/background checks, DocuSign for electronic signing, and Zillow & turbotenant for posting up listings.

You’re going to have a legal local lease made up, research the local laws, make sure you don’t even appear to discriminate, figure how/where to advertise, do background checks and so on.

Someone calls you to check out the car, but its booked out for the week.

Your entity will need a name and you can check the SOS database to make sure there isn't someone out there already using the name you choose.

I’ll still check carrot out though for future reference if it doesn’t work with real geeks 

Long-term rentals have their own set of fixed expenses such as background checks and optional property management, with variable costs like vacancies, evictions, and utilities, and unexpected expenses like tenant damage and unpaid rent.

Wanted to check if that is true and if it is just lender specific or are there any legal laws around it.Thanks

California has some options but you should check out the Oregoan Coast. 

Check with your state real estate governing body to find out what they require.  

Check to make sure that's the price point for an entire property or if it's just for one room.