True, converting a personal Schedule E to a partnership will indeed reduce your IRS audit chances, statistically speaking.

I would want to know how you handle all of the negatives and bad outcomes long before you told me how great the investment was going to be.  

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

Generally speaking repairs don't add much value.

If anyone has the names of such non-profits and/or anyone with experience doing this as a landlord, I would like to speak with you.Michael King

I can't speak for your area. 

I can't speak too much to the market on the Westside, but as far as affordability on the West Coast Spokane is worth looking into.

Now his original property is less cash flow, and is his 2nd is likely negative $500/mo.

Prices haven't fallen, and rents haven't moved up enough.Investors either need to work harder, be more creative, accept negative cash flow, or sit on the sidelines. 

Given all your data on historic pricing, average length of stay, and pricing at the 25th percentile, please let us know if you're able to push up the VRBO chain to speak to a Supervisor (or equivalent) and have them verify the data that supports your position.I can share that calling the VRBO support line: 877-202-4291, identifying yourself & property ID, and requesting a Supervisor politely and repeatedly, can lead to different outcomes.