I would think you would at the very least need a business license, hellva lot of insurance (and insurance has to be changed to a business account etc, etc, etc). Unlike a work vehicle for a company, you can't exclude a renter from driving your car based on a DMV record assuming of course they have a valid drivers license.

Just doing that for one car is not going to be profitable unless you can keep it booked 24/7, and even then barely. Just the maintenance costs will kill your profit.