You don’t have to keep contemporaneous daily time reports, logs, or similar documents if you can establish your participation in some other way.

As an out of state investor, I would find a solid agent who understands real estate investing in the area and utilize their expertise. 

Hey John,Sounds like the answer would be to utilize a DSCR lender that utilizes either pre-established STR rental income (if you can prove with AirBNB/VRBO statements) or a few that are still UW with AirDNA or a similar STR income projection program.I am aware of a few still doing it at this time, and if you can show that you know what you are doing you shouldn't see much of a cut in LTV if at all.Happy to connect and see if we can help.Good luck!

To manage this relationship, landlords should establish clear boundaries, respect space, use a third-party property manager, and set expectations for tenant responsibilities.

@Vincent Aiello - and for payment, do you utilize paypal or another online portal?

I'm not from your state - but in Florida your taxable basis is established by your purchase price at the time of the sale.  

That way, you're getting paid without having to interact directly with the tenants, screen them, collect rent, drama, etc.I've worked with some of the population that utilizes group homes.

Professionals often have established relationships with contractors, legal advisors, and real estate professionals, giving them an edge when it comes to maintaining the property and handling emergencies efficiently.Should You Hire a Property Manager?

Do most of them include the utilities in the monthly fees?

@Pretty Khare As Ruben and John mentioned above, you can utilize a cost segregation study on your STR property to reduce taxable income (or create a taxable loss) to offset against your W2 income, but you need to ensure you are following the IRS guidelines very carefully.