It's where I cut my teeth and tested all my knowledge and skills set.

Does the request pass the sniff test? 

Yes you can you need to pass both tests. 7 days or less and the material participation test which I have outlined above 

Testing them out see how it goes, but initial experience has been very good.

The key is to test, test, test until it works.

It sounds like you are mashing a lot of different things together here.It does not matter at all if you have an LLC, or if you, or your wife is the owner - it doesn't change any of the tax positioning in the slightest.The test to be a qualified Real Estate Professional is at least 750 hours in real property trades or businesses AND  over 50% of your professional time. 

Recently, PM suddenly told me that this property needs "lead testing".My PM is not aware of this I already have 2-year lead certificate from the previous onwer AND assigned an inspector for lead inspection for me.

I generally agree that homes in Cleveland should be tested for lead.

I'd look for signs of arcing around those outlets.Other things I look for are how is the foundation, cracks in the walls (assuming lath and plaster), condition of the mechanicals, depending on what the house is built on, I may get a radon test done for the air and water (near me there is a lot of ledge, so radon is an issue in most homes). 

It isn't helpful that you are not able to really test out Hostaway without paying a $250 onboarding fee and paying for the first month of service.