Otherwise, it looks like you may have 1031'd into "bad investments" for the tax deferment but are now eating the cash flow as a result. 

@George Bell my LLC's do two main things:1) Hide my identity, so tenants can't easily find me. 2) Separate my business and personal assets, income & expenses, not so much for tax purposes, but to avoid IRS issues.-- Just audited by IRS this summer for first time ever and had no issues!

It’s looking like this will cash flow neg just with est mortgage payments plus insurance and taxes of $1100ish (after renovation), property management of $120.

Also that syndication is a whole other beast, and while there are tremendous benefits from starting a syndication, like taxes, acquisition fees, sharing the work load, etc, the risks are that much bigger.  

I finally decided to close the doors mainly because the unit used was not available anymore, but also because the regulations got stricker and stricker over time.Now, if you want to use your 2-4 as an STR, you need to show proof that you are living in the unit you are renting by sharing a government-issued ID with that exact unit or your tax exemption form.If you have a building over 5 units, it's a bit easier but still challenging ( you can rent up to 25% of the units out for airbnb)...the few people I know that are successful are NOT the owners of the building, but more so the operator of the airbnb unit aka str arbitrage

You’ll need to submit 2 out of the 4 documents - driver’s licenses or state ID, homeowners tax exemption, bank statement dated within 30 days, or official payroll documentation dated within 30 days. 

Tax delinquencies, Eviction notices, and just driving for dollars.

Here’s how you can leverage it:Upgrade Your Property While Deferring Taxes: By using a 1031 exchange, you can sell a current property and reinvest the proceeds into a larger or better-located multi-family unit.

Most people that I know just sit on it for decades, while paying property taxes.

This raises the operational costs for hosts.Compliance with Hotel Occupancy Tax (HOT): STR operators must collect and remit the city’s HOT (9% for San Antonio and 1.75% for Bexar County)​.