“Free Lunch” Aspect: Essentially, REPS does provide a “free lunch” in the sense that you can use real estate losses to offset active income now and still have future gains taxed at favorable passive rates.

Energy cost affects every aspect of our daily lives.  

In particular, OO does not have vacancy or PM and typically has cheaper maintenance/cap ex than the landlord would experience.https://www.realtor.com/news/trends/its-now-officially-cheap...if you use realistic expenses, purchase at retail (off MLS) without a value add, you will have negative cash flow on virtually any purchase.  

If values of real properties continue their long term increases, then owning more property even if it means having paid higher prices will turn out to be a winning strategy, provided the buyer is able to maintain ownership through periods of possible negative cash flow and or refinancing necessity. 

I believe a host profile with a face and a name also helped us avoid negative reviews, as guests are less likely to criticize an individual than a company.

If your bottom line is such that having an immediate negative cash flow situation will significantly hurt you then I wouldn’t do it.

You could try to weather the negative cash flow and refi later.

However, it's been my experience that the "take it or leave it" route is the best way to deal with students in pretty much every aspect.

Also, with QBO, it is seamless to hire a bookkeeper to deal with the bookkeeping aspects of it since they can do it remotely from anywhere.

There's much more to consider than the negatives you mentioned.