Great hosts will be good neighbors, will contribute to local tourism and will pay their taxes and permit fees* A major area to improve on the proposal is the 1 hour time-limit for resolving complaints.

Assuming property taxes + insurance added don't go above $1,100 total, you could maybe make this work. 

Since it’s a new build, I was able to negotiate some great perks, like a 5.875% interest rate, no closing costs, a fridge, blinds, and even a backyard firepit.Pros:Good school districtLow interest rateMinimal CapEx and repairs (because it’s a new build)Low insuranceHigh-quality tenants (due to the school district and being a new build)Cons:Lots of new builds in the area, which could drive down prices and increase vacanciesThe Numbers:Price: $290KInterest Rate: 5.875%Down Payment: 25%Monthly Mortgage + Insurance + Taxes + HOA: $1,480 (I got really low insurance since it’s a new build and Alabama’s property taxes are low)Property Management: 10%Rent: $1,800 (this is under market because I wanted to rent it quickly—most units in the area were sitting vacant for 100+ days.

The revenue and expense categories line up with your Schedule E which makes it a breeze to prepare for filing your taxes and I like the reporting features, too.

How would this be accounted for for general accounting and taxes?  

We called them out on it and asked for tax returns.

.: Stessa isn't good for keeping track of tax deduction items.Stessa was designed to just look at P&L.

No matter the number of units, there is one roof, one property tax bill, one sewer line, one gardener bill, etc. 3.

Either way, with rent and price appreciation, tax benefits, holding long term is a net worth exploder.

Taxes : Taxes have been a brewing crisis nationwide for sometime, Chicago is another prime example of a major municipality struggling under high debt load.