Because we have been in growth mode acquiring properties with closing costs and rehab costs our business has been operating at a loss on paper each year not having to pay taxes for the business. 

The ones that build out great companies build the skills, then they teach the skills to people to set calls for them, go to appointments for them and they continue to build out their company as a marketing/sales operation that is more fluid to create more revenue. 

I am bit surprised that anyone who operates a STR would consider not having the correct insurance.AirCover and VRBO's coverage is not insurance.

Would that lower our tax liability from other income we receive or no because this is purely RE and not an operating business?

I've already picked up some great tips, like focusing on operating costs, using comps for ARV, and the unicorn-like nature of good contractors.

Currently I own a large real estate company and still get some great value out being in his inner circle of real estate operators. 

Business is based in California but I’m licensed to operate in Texas, Ohio, and Alabama in addition to California.

To scale, replicate this winning formula in similar markets, optimize operations for Section 8 tenants, and consider networking with like-minded investors to uncover new opportunities and partnerships.

It is clear from the interview that their main skill set is raising money and they partner with other "Co-GPs" who focus on the operations. 

It is important to remember you own real estate in the Poconos and you are choosing to operate a STR business.