In the latter case, I would still use QB to enter info provided by the 3P servicer and to maintain my general ledger for the lending business.

Plus the street isn't a busy one.  

I'm not thinking of 'scaling' my business by becoming a 'passive investor' in someone else's business.

I see why they say, never go into business with family.

Small business owners are struggling more than I thought. 

My motto, "Honesty, Integrity, and Accountability," has always been my guiding principle—not just in business, but in my personal life as well.

If the property is solely tenant occupied you will be looking for a Dwelling/Fire Policy (may be called a Landlord policy or similar name) or a commercial policy such as a Business Qwners or Package policy.Most homeowners or dwelling/fire policies include:1.

The program has been great for my own STR investments and my co-hosting business.

See responses to your questions below: Correct, California is uniqueTo qualify for REPS you need to meet a number of criteria, including (but STRs that meet IRS criteria generally don't need REPS to leverage tax benefits): More than 50 percent of his/her time working in real property businesses; AND, More than 750 hours of service during the year.

To become a true business owner or investor, you need to leverage your time through others.