You might have heard using other peoples properties to lease and list for airbnb.I am signing my first  lease with a property owner and start airbnb in two weeks.Is there any thing i have to know?

Do you have a signed agreement from the seller?

In doing so, the price will go up a little bit and the end date will, of course, be changed.Can this be done with a 1 page word document i type up stipulating that all terms of the previously signed lease are in effect with the end date being x/x/xx and the new monthly rent being $x,xxx.00?

@Raymond Hill my sense is that due to the various costs and regulations involved, as @Brandon Ingegneri mentioned in his examples, it just makes more economic sense for builders to focus on single families than multis.I think it's related to the fact that most single family purchases don't make sense from an investment point of view because as an investor who's looking at income and expense #s to determine what you can offer, you're competing with owner-occupants who have very favorable financing and are buying because of the school district and because they like the kitchen and bathroom, not whether the rents vs. expenses & mortgage is profitable.In other words, because of the favorable financing and "use benefit", the buyers of single families almost always pay more per unit than the buyers of multi families.

And they have signed a contract with the buyer as well as vetted their finances.

I signed up for the life-time membership (about $600) ...so worth it!

A couple weeks later, I signed the contracts.

The wholesaler agreed to take my offer verbally but never returned the signed paperwork and ended up taking a much higher offer. 

You'll have to determine what it is worth to you.

Personally, I wouldn't buy it unless I already had a church willing to sign a lease before I close.