This will be my first time purchasing an STR, and I have no prior experience.

Should I just jump into it and try to invest in my first property with not much experience besides the many investing books I've read?

This has nothing to do with real estate experience. 

In my experience, 75% of the time, the tax payer doesn't have a large enough liability to justify the accelerated depreciation anyhow- depending on your income and tax bill, it might not matter at all.

This was a learning experience that will fuel many success to come.On the podcast you mentioned you were going to take a few months off.

You get PM experience, lower expenses, you don't live with your parents anymore, etc.. 

I manage around 400 rentals with 14 years of experience and have never been sued once.

But if you only have one rental and you get a bad tenant you are sunk.Read the laws and talk to some mom/pop landlords with decades of experience.

Quote from @Matthew Brown: I'm looking to find others invested in the Fairway America Vivo Rancho Cordova syndication deal to discuss their experience with this investment and Fairway America, overall. 

It might be best to hold off until you hear of other BP members who have experience with them.