The Augusta Rule, known to the IRS as Section 280A, allows homeowners to rent out their home for up to 14 days per year without needing to report the rental income on their individual tax return.Originally created to protect residents of Augusta, Georgia who would rent out their homes to attendees of the annual Masters golf tournament, the Augusta Rule applies to any taxpayer who owns a home in the United States, provided that your home is not your primary place of business.How Does it Work for the Homeowner?

This means providing top-notch customer service, keeping the place clean and comfortable, and adding thoughtful little extras.

However, if we charged $50 cleaning fee and had 10 bookings per month, that would be an extra 500 of revenue.  

You don't HAVE to buy points, but if you have a high DTI, the lender might not be able to do the deal unless you do, we can't tell from the information that you've provided here. 

Providing something unique in a very competitive environment is essential Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Okay noted.Here's a few extra details:The asking price is $200k (which I hope to talk them down further if my lender gives me the go ahead) and the zestimate listed on Zillow is $211k.This property is owned free and clear so I know for a fact that there hasn't been an appraiser through there recently.

It's called piercing the veil.This may not apply to you since you own the home outright, but in today's market with the margins on properties being so thin I personally wouldn't want to assume the extra cost for only 1 property. 

-I like investing in college towns, as I feel it provides STR and LTR opportunities.

They can also claim you were 2000 miles away and not there to make decisions or provide feedback, and if you never visited the property that is another X against you.

One reason I did not initially raise the rent higher is because I switched the heating system to a new tenant paid system and the extra cost made up for the difference in rent.