Know that once a grouping has been established, it must remain for all future tax years.A third way is to have your spouse qualify for REPS status.

If you meet this regulated threshold at the end of the year, an IRS 1099-K tax form will be provided to you."

@Scott Smith and @David Disraeli, I was informed that South Carolina does not recognize Series LLC, thus any lawsuit would follow state established LLC law, not necessarily that of a Texas-based Series LLC.  

Reading through some other forum posts, it looks like there are much simpler partnerships, entities, or offerings that would meet what I am trying to do:My Role:-Decide on properties to purchase, mostly SFHs-Establish LLCs or other business structures to hold the real estate and distribute returns-Purchase properties, using loans as needed depending on the ROI/cash flow desired from investors-Act as property manager for the properties-Depreciate properties held in business entities to minimize taxable income to investors-Distribute returns to investors-Create investments that have high cash flow (CF) and low appreciation (App) , moderate CF and App, low CF and high App-Find investors from connections, friends, and family with no public advertising-Advise in a minimal capacity on tax and real estate strategies-Send investment reports to investors-Be fiduciary to all investors-Receive compensation from PM and other management work I do related to the investmentsInvestors:-Can be non-accredited -Invest as little as $1000-Can use retirement accountsWhat references can people recommend for me to learn about business structures, partnerships, securities, taxes, or other topics to get me started on learning what will work for my goals?

Compliance - Check and keep up with all regulations, rules, taxes, insurances, everything!

Not sure what your short term rental regulations are for your area, but if HOA allows, airbnb could be a great way to acquire short-term, mid-term, or long-term roommates.  

Going back to intent,  a good and established wholesaler should have not so much intent as ABILITY to close.

I would just check with local zoning department to see if you need permits or to adhere to certain regulations.

You have established a stable income stream and solid understanding of the market.

Why is it that most “authorities” that ban STR (or heavily regulate) decide to ban or regulate rental “30 days or less”?