The part I found fascinating is that the RA, citing some unspecified Appeals precedent, allowed his yacht activities as business activities, despite minimal income!

Regarding registered agents, from what I understand they must be located in that state, any pointers to finding a good RA?

Guesty for Hosts $21/mo  - time saver, guest automation cross platform, direct bookingRing Cameras $20 /mo  - indispensablePrice Labs $35/mo   just started this a few months ago, everyone is like A+++, jury is still out for meHostfully Guidebooks  $20/mo  improved guest experience and email collectorREIHub  $23/mo    just started this year, another time saverZapier  $20/mo     massive time saver as this automates RA and does record keepingSignNow  $16/mo  Peace of mind and meeting insurance obligationsTotal = $155/mo or $1860/yrTo me for what these services provides, the $155/mo is less than half of a an average 1 night booking.  

If you decide to allow pets and then make sure your property is actually pet friendly as far as the types of flooring, furniture, amenities you offer and have a strict RA in place outlining what is expected I think going pet friendly could be to your benefit.

Smith, RA - Principal Architect at Architect Owl PLLC (Licensed in NY & CT)

@Lucas VreekenTypically a reit will pay dividends and has to distribute most of its earnings each year and you will pay taxes on that money earned each year.There are r a lot of passive investing options available

RA to the rescue... has the house been on the market for 2 years because the purchase price is too high?

Smith, RA - Principal Architect at Architect Owl PLLC (Licensed in NY & CT) 

STR saturation is market specific so you could look for a market that has STR potential and do RA there.

Smith, RA - Principal Architect at Architect Owl PLLC (Licensed in NY & CT)