The market rate for a full-service STR co-hosting company is 25% gross after cleaning fees.On average the following would be included... 24/7 guest communication, vender oversight, weekly updates on the OTA listings, make sure maintenance and deep cleanings get done...but owner pays the expense, stain removal on linens, marketing the property, keep supplies stocked...again owner pays the expense, keep property guidebooks updated (digital copy and hard copy), security (locks, cameras etc.) oversight, bi-weekly pricing software management, walk the property regularly, provide monthly reports, and obviously any guest problems that arise time to time.

Also, don't forget your 401k's can go SOLO, self directed and buy properties themselves.. look at the stock market lately?

Not sure of the sentiment of everyone for Kris Krohn within the BP community but I’ve seen him say it’s not the benefit that you may think as you are beholden to other rules/laws that one would not be without a license.It does seem as though the cost of obtaining and maintaining a license coupled with the costs to have access to things such as the MLS would directly impact overall profits. 

If you must foreclose, you need to step in and do what they failed to do.This is not exactly "passive" like a stock you can buy and forget. 

I can't see a reason in the world to sell it to an LLC now since you want to maintain your husband and wife tax exemption on the future capital gain as a primary residence, but since it's rented now you may want to consult on that.

You need to make sure it's furnished and has all the amenities needed for extended- stays (fully stocked kitchen, washer/dryer, TV, etc.)

Plus, you would need to maintain thorough documentation of your hours spent and the activities on which you spent it, not to mention you must absolutely know the ins and outs of the type of activities that qualify you for REPS before you keep your stand at the tax court.

A truly local bank will be able to help get you where you want to be as you help them be profittable by maintaining a deposit base with them.

Why buy the real estate equivalent of a penny stock when you can afford to buy blue chip aristocrat dividend stocks (Class A multifamily properties in good locations with actual strong fundamentals like population growth, a diverse and recession-resistant job market, limited supply and high demand, affordability, and consistent long-term appreciation)?

I was thinking of writing in my lease something to the affect of "ceiling fans were left here from previous renter, landlord will not replace/maintain ceiling fans.