Quote from @Joshua Thompson: If it helps, I asked many clients this same thing and learned the clients who spend time each month updating books and records are the ones who spend less than 30 minutes preparing everything for us. 

Right now, homeowners across the country are seeing record amounts of equity.According to Intercontinental Exchange (ICE), the average homeowner with a mortgage has $319,000 in home equity.Why Have Homeowners Gained So Much Equity?

Keep detailed records of your hours and tasks—it’s crucial for proving active status if ever questioned.Don’t overthink starting with Airbnb/VRBO.

Chiefly, it says "Minimum lot size: 8,500 square feet, or 6,500 square feet for lots of record," along withMinimum lot frontage (width): 80 feet or 60 feet for lots of record.

and, something that doesn't get discussed enough - a record number of properties don't have any debts on them. 

Secondly, calendar and email functions/apps on computers and smartphones provide great records and a log.

Again, others might disagree.a) Track Record: Get the entire track record for the strategy.

My duplex - built 1989, 2,060 sf, 2 bed/bath, 1 year old roof, value if I subdivide (county already approved) and sell each separately $150k each ($300k total)Investor duplex - built 1995, 2,300 sf, 2 bed/bath, 5 year old roof, value around $310kThe investors initial request was for an equal trade and they would pay realtor fees, which I replied wouldn't be equal due to buying/selling costs (recording fees, title insurance, closing fee, survey, inspections, loan fees, 1031 fees, accountant fees, repairs), taxes would increase due to new sale price, I'd trade a 3.75% mortgage for a higher one, and I'm on the 10th year of a 30 year loan so resetting that to a new loan would restart amortization and pay more towards interest.

If, a year from now, you have an extra $20k piled up because you have been serious about this, it established a bit of a track record and proves that you are a doer and not just a dreamer.I would also express gratitude that you have a partner that is so cautious.

In 30+ years we've been sued 1x (legal blackmail over a tenant's drunken trip/fall) which the insurance company settled for $1,500.00).We've been using some privacy tactics to keep our names off the county recorder and the target off our backs.Further, we review our insurance coverage and premium annually, just to keep on top of any changes.As with all insurance, it seems to be a waste of money... until you NEED it!