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.

For structuring your business, consider whether you actually need an LLC or if umbrella insurance might be a simpler alternative.

For example if one partner brings the 20% down payment and the other will do the labor for renovations then what would be a reasonable split be.

Did anyone do business with Allegiancy's other DST offerings, and if so, how are they performing? 

Noone bring me any REALLY good deals for the next 1-15 days, or I am subject to counter claims...Real estate industry.... get your act together.

As you get into bigger buildings it's harder to bring any less than 20 or 25%

I think there's a pretty low bar for competency in the management business because it's not glamorous and can be a grind.

You can obviously bring them to small claims court for the amount of the deductible.

When the rent rates stabilize, I suspect they'll bring it back.I wouldn't try it in a location like Portland, but 99% of the country would be fine with a policy like this as long as it is disclosed and applied equally.

Do you know investors who have done business in Oklahoma?