I'm considering renting out my furnished 2BR/2BA condo as a daily rental. It is close to hospitals and is in Little Rock, Arkansas.
I don't expect to make enough money to pay all the expenses associated with the condo, but since I am only there about twenty percent of the time (I'm caring for my mom and live in a house on her property for which my husband and I pay all the expenses) it would be nice to recoup some of the loss.
How do I pay income taxes on it and if so, is it worth the trouble since I'll have to clean before and after each use which entails a 90 mile round trip? I want to be able to use the smaller bedroom when my husband or other family members need it so I don't want to lease it.