If you want more cash flow and want to walk away with more of the 80%, perhaps identify another market and do a 1031 exchange so as to not pay capital gains taxes.  

This was a few years ago, but at that time as I recall they were looking to do more long-term property leases over owning properties and doing pretty landlord friendly leases where they would do repairs and even pay property taxes. 

3.Draft a written agreement where the property owner retains full ownership of all guest funds (nightly rates, cleaning fees, and taxes), while the cohost invoices for management fees and reimbursable expenses?

Consult a tax advisor to optimize the use of passive losses and explore potential benefits from selling stocks.This post does not create a CPA-Client relationship.

Great tenant but property tax increases have reduced my cash flow.

I've faced some large insurance claims in the past and a public adjuster may be helpful in maximizing your insurance payout. 

Quote from @Daryn Gardner: I recently purchased a tax deed property.

I purchased the property at a tax auction.

By scrolling down, I can usually find the property taxes for previous years, giving me a rough estimate of those costs.

Multifamily offers steady income, scalability, and tax advantages, though it requires more upfront capital and management skills.