The process was seamless.

None were a match for me personally and many were not a strategy I wanted or too speculative (such as opportunistic strategy which is the riskiest strategy or investing in tertiary markets which also tend to be the first to go belly up when there is trouble etc).You probably actually want to look at your operating agreement to see what rights you have to books and records, etc. 

LLC in the state of operating?

In this case, you would draft an operating agreement that specifies each partner's role—your friend providing the cash and you handling the rehab and management—and that profits and ownership are split evenly.

Deduct mortgage interest, property taxes, travel, and operational expenses.

The the transition was seamless and since I know the tenants already had to pass their screening process, I was not concerned about inheriting these tenants.

It's important to understand the zoning/code requirements and obtain all necessary permitting if you intend on operating your real estate as STR anywhere in the country.

Airbnb operates as an interest-based algorithm, rewarding listings that grab attention and keep potential guests clicking.

The city operates on a block-by-block basis, and understanding those nuances takes legwork—or working with someone who truly knows the area.

I see a conflict of interest in your role as fund manager and principal in the “operating” company.