@Marc Shin, Soundproofing is definitely something worth tackling for a short-term rental—it’ll keep your guests happy and help you avoid complaints.

After 20+ years in real estate partnerships, here's what actually puts you on the IRS radar (and what doesn't):REAL Red Flags That Matter:The Partner Complaint TriggerDisgruntled partner files Form 8082K-1 disputesPartnership disputes leading to tax filingsReal Impact: Instant IRS attentionSuspicious Loss ClaimsLosses exceeding investmentArtificial basis inflationSudden large losses without economic realityExample: $100K investment claiming $500K lossesRelated Party GamesCircular property flipsBelow-market transfersFamily partnership schemes without substanceWatch Out: IRC §267 and §707(b) violationsDebt Engineering Red FlagsBasis inflation schemesArtificial guarantee arrangementsPartner debt shifts near year-endCritical: IRC §752 compliance matters!

Complete criminals/fraudsters. 

No decision yet, but it's looking good for the investor, as they were able to find about 20 other houses in the area that have been operated as STRs for years with no complaints.

We have an A+ Rating with no complaints. 

Johnny I would like to thank you for your response, just knowing that complaints get addressed and try to get resolved make me feel better about my investment.

I recommend a simple spreadsheet to check your math and it will make it simple to adjust each year.End the complaints.

How else would you know which one is the criminal?

Search the forums for complaints about Anderson Advisors. 

And Northpointe is criminally bad.