Based on a quick answer from Perplexity it seems like there would be no issue with you buying the home and collecting passive income, but you may not be allowed to manage it yourself since that is considered active work.

So I wouldn't recommend them unless time isn't an issue for you and you don't mind waiting a few days for a response.  

I remember years ago our attorney reviewing one such issue for a client that was coming over to us. 

It doesn't happen often at all.We run such a tight ship, we rarely have issues that need attention.

Many times the tenants are income based and pay 20-40% wherein only 60-80% may be guaranteed.Aside from the rent percentage issue is pride of ownership.

I find that it's almost a one stop shop in that I can use it for my business checking and savings accounts, bookkeeping, for rent collection, I can issue virtual credit card, I can create all the financial reports I need to run my real estate business and prepare for tax filing and through their partners I can vet my tenants, develop state-specific leases and more.

That is the issue I am having now as my wife and I have great paying jobs and just cleared all our debt.

Most people doing creative finance downplay this explosive issue.

Now, if you do not use a PMS and only have a few properties or only operate on Airbnb that’s a non-issue.

The bigger issues that need to be addressed by the operating agreement are how you deal with disagreements.