@Hansen TongI recommend finding an accountant that specializes in real estate taxation.

To make taxes easier we set up a business checking account and had all the rent paid into that account and all the expenses paid out of that account.

A $500k property should produce gross annual income of +/- $50K but can generate as much as $65-70k with the right location and amenities like a hot tub.

My questions: - Looking to understand pain points of operating in Indio that you wished you had known - Besides the music festival in April, is there frequent tourism ensuring you are making the annual CoC ? 

I'm still struggling to get my first AirBnB but values are rising, gross annual yield is mainly above 10%

Cable, smart TV's and guests sign into there own accounts

Common syndicator game of throwing out huge returns when other funds are going under because they want you to only look at that shiny number and not what their past performance has been@Chris Seveney 25.7% Annualized Return / 21.7% IRR.This was my first passive investment and yes I was under educated, naive and attracted by the expressed returns. 

Many people choose NOT to have this, because the administrator will then vet every investment you make to ensure you do not invalidate your IRA.Invalidating your IRA means that you've done a prohibited transaction and the entire account is then deemed as distributed to you.If you don't want checkbook control, then I recommend a plan administrator such as Equity Trust - www.trustetc.comIf you are sure that you're aware of all the rules around prohibited transactions and disqualified people (who you can and can't do business with), then a plan administrator like Sense Financial would be a good place to start talking.  

I was profiting over $20k annually.

You don't know, what you don't know.Bigger Pockets is a great place to find a tax accountant specializing in real estate taxation.