As far as a multi, personally if all things were equal I'd go for the multi for a few reasons.  1) Added diversification.. if one tenant doesn't pay, you can still cover property expenses with the other tenants 2) Shared capex... typically, one roof and one property to maintain but multiple streams of income 3) Less vacancy.. usually multi's rent for lower, for example one of mine is the sweet spot of 3 bedrooms for $1300. 

Assuming that John’s wife is managing the Airbnb Rental and qualifies as a material participant, John Doe’s family can deduct $150k from their w2 income for the year 2022 (Bonus depreciation 100%).This would equal $33,000 in a tax refund for the family.

We would both be equally involved in all aspects of management/profits.

The fact is, there are a lot of investors in STR who are not seeing any returns and on the flip side of the coin, an equal percentage of investors are killing it.

I'm guessing it will be probably the LLC that gets formed but if it's an equal split down the middle of GP ownership, does that give both partners the right to say "I own this property in my portfolio"?

With this method you would have a total of 3 properties your (primary, accidental property, and new investment property).If you are interested in getting rid of the accidental property doing the 1031 exchange tax wise would be more beneficial to do than just selling the accidental home and not using the funds to purchase a home of equal or greater value.

For you investors that have ordinary income to write off let me tell you the greatest secret to minimizing tax liability, Cost Segregation.When coupled with zero down seller financed purchases the numbers get crazy.These numbers below are one of two parks I bought zero down with seller financing last year.This one park one year is a $140,834 write-off equal to $40,842 in tax savings and the second park is $14,000.I am projected to save almost $60,000 on two community purchases that I don't have any of my money invested into, they were true 0% down parks.Don't kid yourself, real estate is the best investment opportunity that exists.

Maybe go into a deal with others but if you don’t have the cash to become an equal partner it is going to cost you in a lot of sweat equity and frustration.

Most likely no tax difference, unless the annual interest amount approaches your standard deduction of $12k ish.All being relatively equal, I'd take the path of fastest removal of her from title.   

Assuming equal profit and appreciation, the only situation where I would consider 2 properties is if they had opposite peak seasons for more steady year round revenue.