Specifically, has it changed their tax preparation bill since they can't just send their Quickbooks file over to their CPA?

I was specifically responding to this: Would I pay for all the remodel expenses and then 50/50 split of profits or does contractor pay remodel cost? 

If so, I am curious the thoughts and drives behind that, like, maybe really wanted exact answers to you so thought posting on your specifics was best approach? 

Here, we will focus only on a December-specific question: how can I meet material participation if I buy an STR in December?

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

ALSO they have regs on rooming houses only allowed in specific zoning, similar zoning as for hotels;  only on main streets in business districts AND you have to apply for licensing and blabla as for a hotel..That said;  there is a small movement supporting rent by the room as a small step toward solving affordable housing. 

The city just passed a very confusing zoning regulation restricting student housing to a specific area, and we're all trying to figure out what the fallout will be.

That said, I think it’s impressive that you’re able to manage this with fewer accounts—hats off to you for making it work efficiently.For me, having accounts like income, operating expenses, marketing, and taxes gives each dollar a specific job.

Its worth getting on a mailing list or 2 with your criteria to start getting familiar with areas and prices.

If you're not set on a specific market, it's worth waiting until you choose, as forming the LLC in your target state can simplify compliance, property registration, and taxes.