Keep in mind the law is new, and many cities are still working out the kinks in it.

For example, laws vary from state to state so knowing where you are talking about makes a difference.

Update: We ended up backing out of the commercial deal, way too many issues going on and shady practices that we were not comfortable engaging with.Now the question is what to do with the chunk of money left after we pay taxes.

Practice running the numbers.

Taking classes to learn how to be a real estate agent really just teaches you the laws and how to pass the test.

If you see multiple posts a day, it's definitely worth speaking up about like @Nathan Gesner mentioned.At the end of the day, these "trolls, the cut and pasters, and AI posters" don't win in the long term....All sites or groups that grow experience the same issues with moderation (see Facebook groups), but VAs can't moderate because they are doing a letter of the law thing and not reading these garbage posts for what they are - spam, AI, number puffing, and cut and pasting, self-promo.

Now, I know someone could say the cost should be "negligible" couple of hundred dollars a month, in comparison to the whole buildout budget, but still I do want to know what are the best practices out there.

We ran my in-laws mountain/lake STR for 7 years before they decide to sell the property. 

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.

Being clear about what’s covered in the lease and by local laws can avoid misunderstandings and set their realistic expectations.If you do plan to carry out the cosmetic upgrades (because the property is overdue and of course you want to ensure your tenants are enjoying their home to the best of your abilities), try to schedule the repairs at times that minimize disruption.