On page 245 of this same book (Kiyosaki's) I'll quote him, "If you are serious about doing business, then you do NOT want to do business as a private citizen.  

They forget our brokerage, team, and lead sources put their hands into that check first as well.After August 17th, only the best will continue to prosper in my opinion because it's going to get harder and harder to start from scratch in the business.

@Eric Lahoda, for me it would depend on the class of the rental.

Now that you have purchased your property, you may have to apply for your business license with the Commissioner of Revenue for a small fee and receive your business licensure checklist.

This can include opening some walls here and there so the inspector can check if everything is built to code, then you repair or tear down depending on what they find. 

We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.Something else to keep in mind is your entity structure and how your entities file tax returns.

Settlement occurs before close of business same day.

I'm keeping a couple free checking business accounts; I'm a self employed web developer so that has its account and then the property investing, the other account.Yeah, fees suck and I had a great blowup with my local bank where they charged me 28 bucks because they couldn't get their deposit dates straight.

This would be more dependent on the  surrounding zoning, future land-use maps by the City, and the City's input. 

Hence, they are looking at STR as business income rather than passive income.