That’s how they make money.You need a good reputable real estate lawyer to see you through this. 

@James Carlson You probably already know my thoughts on STRs vis a vis 'affordable housing' :-)But this is going to play out as it will, and ultimately even Gov't intervention/restriction will fall to the power of the free market, so we'll see how it goes.I wish the property owners and entrepreneurs well, although some of them will learn that 'elections have consequences' as 44 so famously said.

If you moved it to an LLC that both of you own it will be a partnership and that has its own consequences and costs. 

From what I’ve heard, there are reputable local management companies in regions like San Antonio or Omaha that handle everything from screening tenants to arranging quick repairs.

I'm considering a fixer upper to retain as a rental but need guidance on how to pick reputable contractors.  

Good luck I have used Ashland as well.. they are a reputable company. 

Meaning you can spend the time traveling to the market(As we did for 18 Months once per quarter) or you can seek a reputable operator in the market you want to invest in and leverage their team. 

If we are purchasing properties when the market is a highly appreciated seller’s market, we need to realize we may be in DUMB DEBT and should be prepared for the risk of suffering the consequences if and when the economy turns for the worst and goes into a recession as this will likely cause values to drop.

He can sell you a worthless education and there is no consequence. 

To paraphrase Warren Buffet “it takes a lifetime to build your reputation and only a moment to destroy it”