Weekends, holidays, or natural disasters are no excuse.

We are only a month into the lease, but I am a planner by nature and want to put thought into how a professional handles the lease renewal.

Dependent on the market owning the property and running an STR can be a great investment.There was a reply that mentioned spreading out the risk and that's important to the conversation because a bad guest can impact cash flow or future cash flow, however that is the nature of that business and one you will plan for.As long as you're holding a title to a property, paying down a note and at least breaking even, maintaining and improving over time the property... that's an investment in my book.AirBnB Austin is gonna be different beast than DFW or whatever too, find a model that is workable.

Guess that area may be better for cash flow rather than "natural" appreciation.But for your plan of living in the property and renting out the other units that will pay for your mortgage is pretty awesome.  

Landlord pays natural gas ($200-250 a month average), water/sewer ($200 a month average or less - depends on metering setup). 

Most will give you an initial consult without charge.With a syndication, the SEC attorney creates a Private Placement Memorandum and other legal documents that formalize the process of investing in deals of this nature.

Likely, you will need to draft new agreements between the tenant buyers and the park after you close in a fashion that keeps the economic nature the same, but to comply with the law. 

@Teresa Wang,  It's very probable that if you're audited the claim by the IRS will be that you changed the nature of the property with such a massive change.   

The problem with high-income earners (Income around 150 -180k), who cant qualify as a RE professional (There is a test), is that the depreciation-induced losses are limited because its passive in nature.

As long as you're reading, I think the natural recommendation is Investing in Real Estate with No (and Low) Money Down by the same Brandon Turner.