If the result is negative (a loss) and your personal gross income is low enough, you can subtract the loss from you personal income.This is no different for you than it would be if it was a regular tenant living there.For you brother it's going to be a little different, and I'm not sure on that.

I do not intend to use this in a regular basis but It is nice to know I always have a safety net.Thanks!

I'm with Account Closed but POF should be easy to attain.  

I use a regular Excel spreadsheet for our rental property expenses.

Airbnb is a new system of utilization of real estate, and many, many people honestly have no experience with it, though there are many people with an opinion.I can tell you this... from direct experience and indirectly as a consultant, that for the most part, you'll find that Airbnb "guests" are nowhere near as hard on things as a regular tenant who gets "comfortable"... that is, of course, assuming that they are being managed well (slumlords tend to have crap tenants... bad Airbnb hosts (or under experienced ones) tend to have bad guests.That said, your tenant has shown you that there is a market at your property for short-term rental.  

they are bit more on the expensive side, but dont use wifi and are more durable then the regular keyless door entries. this ensures that guests can always get in and out even if there is a power outage. 

Also, in Texas, new builds are running the market right now because they can offer lower interest rates than those on the regular market.

What are the expenses for water/sewer bills, trash, landscaping, snow removal, regular maintenance, insurance, management, etc?

I can get that in many other legitimate ways that will take much less time, money and hassle.We found that using a regular Corporation rather than an LLC gave us the best coverage for the dollar, ie; health insurance deductions, payroll, etc--check with your CPA.Remember that every legal entity you create will require time/money for accounting and tax prep, filing fees, etc.Best of luck!

You can regularly follow the classifieds in your local paper or read the Royal Gazette in your province for publication of foreclosure or mortgage sale.To find owners of a property, you will need access (electronic or physical) to the land registry of the province in which the property resides.