However, we will likely need a property manager to assist with some facets of running this rental (since we would not live locally) and would primarily market it through platforms such as Airbnb and VRBO to start, (eventually setting up a direct booking process).Here's our question for those who have experience in STR's or who might be involved in a similar scenario: How challenging is it to meet the material participation hours needed to achieve active status?

These repairs are through a contracting company owned and operated by the PM. 

You may have to dig through the minutia to understand them.

A prudent investor doesn't seek quick riches through shortcuts.

Once the property is on the MLS, it is visible through any number of consumer websites.  

Here is what the IRS says on the subject: Election for Husband and Wife Unincorporated Businesses A business owned and operated by the spouses through a limited liability company does not qualify for the election Only businesses that are owned and operated by spouses as co-owners (and not in the name of a state law entity) qualify for the election.

Some properties actually lose money each month but gain value through appreciation.

My question again stems around using seller financing to allow them to receive a consistent monthly pay of X amount and delay/lower their tax bill in the short term instead of going through a lender to borrow 800k+ causing my mortgage to be significant part of our income roughly 40-50% of take home -  which we are approved for LOL.

@Andrew Slezak I'm working through the Sec8 process for the first time so take this with a grain of salt, but my understanding is they will pay the lesser of the following two prices:1) the market rent of your property, determined by comps, and2) the FMR minus any utilities you don't include.

Run through some of the features you will need like setting up a property, moving in a tenant, receiving rent payments, and publishing online applications.Pay attention to which platform feels the best to you as you perform these functions.