I'm a realtor from Colorado who wholesales STRs nationwide to help investors get big tax deductions.

And remember the tax deductions and depreciation you will lose out on. 

I have not reviewed BAM's fees but it's likely based on their representation of UNDER 10% "skin in the game" that most of their "investment" is taken from fees deducted from the money gamblers place with them and counted as equity in the deal; this is a common practice in the syndication industry. 

This is an old thread and I don't have an opinion on Rent Hero (except that maybe this business name feels a little dated and pigeon holes them)For tracking receipts Real Estate Investors often think they need physical receipts for every single tax deduction.

Oh look, you get to deduct your cell phone, your internet, your tax prep, all kinds of other things regular people don’t. 

I use high deductibles($10k) which saves me a lot of money.

Would this, however, place an administrative burden on the property owner, who would need to handle taxes, deductions, and payments to the cohost?

In you're case you're looking a $500k deducted from capital gains.

This is what I learned: I could not deduct interest on personal loans so I ended up paying as much in taxes as I made.

Deductible expenses include a proportional share of mortgage interest, property taxes, insurance, utilities, and repairs.