If one partner is more capital intensive vs others all that will be spelled out. 

Hi Johnny, I can help you work out a good scenario

Lesson from Radiant Young Adults night in Tampa – "Staying Power"Last Thursday's session reminded me:- Stay consistent- Play the long game- Consistency always beats periodic bursts of intensity- Consistency might feel “boring,” but that’s where growth happensStay the course!

I live in southbridge and actually work out at prime in oxford!

I live in the Tahoe takes regular upkeep from the snow to the intense sun to wildfire risks. 

Use this experience to work out the kinks and build a strong, reliable team. 

While the arbitrage model didn’t work out as I’d hoped, it turned out to be a valuable learning experience.

If talking to more builders does not work out to join you on transaction #1+ and you have enough capital and heavy rehab experience along with a GC / builder doing the project many lenders out there will offer you a lower leverage loan for your first project on your own.  60% finished value and 75% LTC is probably achievable without a builder in your company for the loan. 

DIY property management can be stressful and time-intensive, especially if you are managing multiple properties or live far away from your investment.

So the tax benefits are not gone yet.The cash-flow from STRs is usually much greater than LTRs, albeit if you're self managing it can be more intensive.