To structure a partnership, consider forming an LLC where you handle property management, renovations, and operations, while the investor provides the down payment.

For me, in the LTR game, it's tenants. 

We manage remotely as well, so this question may not be a good one for me to answer.

Send a written notice (yes, paper) to the tenants with proof of delivery required (the postal carriers have this time to an art form; it's inexpensive and you get confirmation via email or receipt very quickly; it does not require the tenant to sign - it just confirms that the notice was delivered.A paying, respectful tenant is golden.

After looking at your post, I realized it's probably necessary to have a dedicated real estate attorney handle this issue for me since it's serious and I might make a mistake big enough that probably will cost me too much money to fix.

Would it make sense to form this into an ADU or leave it as is?

Also, paying 20k for a course is not that much for me anymore.For me, if you are questioning the amount to join, then you are not ready for the course and that mentor.

As someone actively investing in STRs and looking to scale, this raises some concerns for me about the long-term viability of this strategy.I understand the tension between hotels and STRs, especially in popular tourist destinations, but I’m curious:How real is this threat?

The real property investment can be repositioned if it proves disappointing in its original form; it can be refinanced or recapitalized if it has too much or too e pensive debt; inflation over time bales out many bad purchases, and finally the investors knowledge, experience and abilities can be leveraged to turn around a cash flow negative property.I’ll provide an exampleThree years ago we purchased a note from a bank secured by two auto repair facilities with a large amount of excess land.  

Initially with the 3 rents it looks like it would be a go for me.