I would not recommend anyone write their own ppm for non-acredited investors unless they have done several already, the offering is identical to the previous offerings and they know how to file it.

For example, if, in an 18 hour waking period, you spend 2 hours snooping through the AirBNB, writing down the makes and models of appliances, figuring out the distribution of the mini shampoos and inventorying how many cooking supplies your hosts are providing and the thread count of the sheets, then an auditor might allow you to take 10% of your total trip expenses as a deduction.If, however, in an 18 hour waking period, you spend 6-8 hours per day interviewing Hosts, researching which properties would make good AirBNBs, researching the local laws, touring properties, meeting with an agent and vigorously pursuing your next acquisition, you'd have a MUCH better case for writing off your travel expenses (but probably not your lift tickets and equipment rental).If, on the other hand, you are traveling and on vacation and just hang out in your AirBNB without actually performing any activities, then the odds that an auditor will allow any deduction at all is pretty minimal.In any audit, it would be up to you to document the business purpose of your trip.  

Are there any issues with renting a single family home to multiple families, if the house is equipped to do so?

I had the identical thing happen to me, when I bought my duplex.

In admittedly oversimplified form:Say an identical 10-unit building a block away, where the units all rented for $1k/mo ($10k/mo or $120k/yr PGI) sold for $1M.

let's say i am looking at to identical house, where each one of them will produce $500/month after refinance.

The operating cost on each building is almost identical, so I will just use 1 building as an example. 

This states the home has been approved and available to be a rental.And some of these must be applied for every time a tenant moves.So check your state laws.There are Landlord Tenant Laws, Building Codes, and laws that are not laws at all but based on a Judge’s opinion of whether or not a tenant did wrong or not.For instance, normal wear and tear.Judges have various opinions on what they deem normal wear and tear.This is an Industry of thinking skills.This is an industry of holding your temper and implementing your lease agreement no matter what.You need to think like a Judge.You need to think reasonably.You need to be a good listener.You need to be in control.Once you buy a house you need to know how to keep that house and how to keep your tenants long term.You need to know how to be all things in order to keep your tenants happy, yet make them know the rules of landlording and how to be good tenants.I always say that one is only as good as the tools they have.You could be the greatest landlord in the world in mind and action, but if you don’t have the equipment, or the education, or the money to invest in the proper tools to make you successful, then you will never make it in this business.It takes my breath away to read the stuff on here by new investors.And I understand that how can they know what they do not know?

I have a identical fireplace lay out in my home, wall to wall, raised hearth  (much nicer brick) and have not used it in 25 years.

They are next to each other and are identical, each have (2) 2-bedroom apts and (2) 1-bedroom apts.