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. 

You were given the opportunity to do your due diligence.

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.

Likely it is just a quit claim deed to your new name, however, also note that some states (ie MI - requires another form to be filled out and it changes our taxes - or can change them....).Get the help you need to make sure it is done right without costing you extra down the road.  

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

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.