And, fees are ordinary income, while promotes are (generally) capital gain.  

if you meet this criteria, then you report the interest earned as ordinary income and deduct your expenses against it. 

Cost=125k.  62.5% of sales price Profit=75k     37.5% if sales priceFor all Principle payments rec’d;62.5% is return of basis, no tax37.5% is profit, taxed as ordinarybincome (flip income) us probaly self employmentInterest rec’d, taxed as ordinary incomeAs far as I know......

Detroit's; 2X the size @ 700k pop, +80% African American, 10% white non-hispanic, single industry automotive focused, for a start.Cleveland's; 300k population, 50% African American, 40% white non-hispanic, and carries health care, insurance, manufacturing (Probably 70% non-auto), and financial sector jobs.

I basically plan to never sell or realize the gains, other than those from income generated through ordinary operations.

Nothing out of the ordinary. 

If it wasn't in the house rules on the listing (before you booked) then it's unlikely airbnb would allow them to collect it from you even if they tried.The upfront pricing stuff has been solved, but I always thought it was funny Airbnb took so much flack for that when every company does the same thing.Saving total pricing for checkout is an American thing, not an Airbnb thing. 

Here is a very good article in the austin american statesman.

I'm an agent with The American Realty...awesome brokerage!! 

I remember well when hedge funds like American Homes for Rent started buying, in 2012, all property in their wheelhouse in Wake county.