I am also an operator with 25 Airbnb listings (some that I own others that I manage). 

Operations and systems are my thing.

As an out of state operator, I like having the added protection of the waivers but using one or the other or both is really up to your comfort level.

I know a great MTR operator, Linda Allen, in your area.

Not a hoarder, he's organized.

If not, even though you are a re pro, losses are passive & deductions are limited.There are 7 scenarios that will qualify as material, and you only need to meet one:*500 hours*Substantially all participation*> 100 hrs and at least 1/2*Significant participation*5/10 years*Personal service activity w participation in last 3 years*Continuous participationTo materially participate, you must be involved in the operations of the activity on a regular, continuous, and substantial basis.Once you pass the pro test, the material participation often comes along for the ride.You can elect to aggregate all rental real estate for purposes of measuring material participation under Sec. 1.469-9(g).Your time spent on all your rental properties (STRs don't qualify) counts as one activity, making it easier to materially participate.In order to make a strong case with your CPA and the IRS you need to document your hours.Best practice is an hours log where you are as specific as possible.

For resources about available syndications, podcasts are a good way to hear the operators talk about their company and mission.

If you’re running a MTR more like a STR, then you can decide to charge the full boat as agreed or, if you desire (possibly to obtain a good review) find a substitute renter for the period in question and credit the original renter.If, like me you operate a MTR more like a LTR just for a shorter period of time, you probably use a specific rental form provided by either the state real estate commission of the local NAR affiliate.  

The highest and best meets the first Mon of every month near Ivanhoe, they post about it on IG @highestandbest (it's labeled as a clothing brand for some reason but the events are solid and free)We've bought 150+ units of Multifamily and still own and operate 51 units, we also manage for other owners in Orlando, FL and Jacksonville, FL so if I can be of help feel free to reach out

@Zachary Ware What if the SL operator actually lives on site?