Keep in mind that there are two roles you play as a STR owner: that of a RE investor and that of a business owner.

That would obviously play a big role in answering your question.

Determining whether the venture falls under a service or rental business hinges on the provision of substantial services; for instance, if a bed and breakfast service is offered, it must be reported on Schedule C, triggering a 15.3% self-employment tax.Moreover, personal use plays a crucial role in the classification of the property.

It sounds cheesy, but the best way to prepare is to work with a friend or two and role-play.

You plan an active role so it should not be as pronounced as a hands off ADU addition.  

But proximity plays a role to.

For the first property, we pivoted to a fix and hold strategy and the property was completed this week and is currently listed for rent.

It's what you think you know will happen, but clearly doesn't and it literally forces you to pivot, change how you operate, etc.

We've found the traditional "live in one half and rent out the other" is a little bit more difficult to accomplish these days but we've had luck pivoting to buying a single family home with an in law suite with separate access.

but might pivot into other models if the opportunity presents itself!