As more people placed more properties in STR inventory, and as more municipalities taxed and regulated the industry, the profitability of the overall industry has reverted to a much more aligned (lower) risk adjusted return.  

The equity model has risk in that it is not going to go directly as planned.  

It’s a low-risk entry into real estate with built-in cash flow potential.

Its just the risk people take when they work for any other company other than themselves..

Partnerships & JV Deals - Partnering with other investor partnership capital partners can spread the risk and enhance deal flow.

My point is, you are on the right track with your thinking, so now to the "HOW" to actually get in, if like me, you don't have an in or connection.First step is likely to get licensed, if you aren't already there are some other ways to get in the door and be helpful but licensed means they can pay you cuts of the deal and its less upfront cost and risk to them in helping you out.  

I usually require my tenants to carry renter’s insurance with at least $100,000 in liability coverage.

A good PM is efficient with solid policies in place that enable them to act quickly and prevent things from getting out of hand.Legal Compliance & Risk Management: A good PM knows the law and protects you by obeying it.

Duplexes cash flow better, have less risk, AND EASIER TO MANAGE compared to a SFH.  

This lets your HSA grow, and since qualified withdrawals are tax-free, putting more aggressive investments in an HSA can pay off in the long run (similar to the “put your risk in Roth” idea).4.Rollovers & Debit CardsMost brokerage HSAs come with a debit card, so spending isn’t too hard if you ever need to.