I have done a few rent to owns over the years, I actually just closed on one the beginning of September.I Converted a long term tenant into a buyer.  

This home has little cash flow and I was thinking i will hold long term but i am thinking if i should sell (will buy some Multifamily If i decided to sell with some extra cash) home this home or keep it.

Columbus, Ohio is a great market to consider if you're looking for appreciation markets that still cash flow.

If you’re investing or planning to invest cash in real properties you don’t need a business, you’re not in business, you’re investing.  

If the property is paid in cash and later a mortgage is secured does it impact the UBIT question above ?    

Properties here can cash flow pretty well.

These are typically higher interst, short term loans. 

With Waco’s tourism growth thanks to Magnolia Market, how do short-term rentals affect the local RE market?

Build an SMB on top of your real estate (the reverse of #2)Short-term rentals and high owner-participation real estate businesses can have great returns.Obviously not for you if you just want passive RE.We are in the deep end here, where each case should be judged on its own facts and merits by your CPA.You should hire a professional to review your particular situation before you make an investment.

Also, for short term rental owners in general, how do you find the necessary numbers to underwrite deals?