Also, Hostfully offers a nice digital guidebook. 

Looking for advice, contacts, lawyers to help me get it set up where it's fair and everything is black and white legally.

I have a solid lease template I got a lawyer to draft.

I would not offer internet.

I am targeting homeowners with dilapidated homes that need repair and offering to pay for the rehab and split the profits with them at the end of the project after the sale of the home.

For analysis purposes, how do you determine the max number of people (max rental income) per month when offering hot beds?

For the income to switch to Sch C reporting, you also need to offer services similar to that which a hotel might offer such as daily housekeeping, food/drink, and potentially various other amenities depending on how you'd like to qualify.What you describe is simply changing property managers, it doesn't really matter whose name is on the AirBNB listing.

If you are making offers, you should be seeing them in real life.

Quote from @Mike Hern: Quote from @Erik Bergerud: Quote from @Nate Sanow: I haven’t yet but am actively offering that way.

You may also try to stop by your local Bank of the West branch - better than trying to establish a relationship by phone - to see if they offer investment HELOCs in TN.