If the dues are exorbitant or there isn't a clearly defined value being brought to owners, maybe pass on it, but I'd say by and large that STRA's are well worth what is usually a pretty small individual investment. 

Define what you know to do, cause right now I am not buying that. 

I figured I would still have to be very involved in this aspect, especially doing more than one rehab project at once. 

Best advice is to keep exploring aspects of the RE investing world and decide which feels right and best for what you want to pursue.

Of course there are many other aspects to the due diligence, including knowledge and inspection of the properties.

You can control a lot of aspects of the loan including LTV, length, type, and where to deploy the funds (BRRRR, flip, new construction).

I think defining and compensating costs like these helps avoid resentment that can happen when a party has to do otherwise unpaid work or otherwise feels the workloads are unbalanced. 

The tax code may never define "Airbnb" but there are rules surrounding these type of activities which I will give an brief overview below. 1) My STR goes on Schedule C:  It depends.

I'm new to Bigger Pockets and have been immersing myself in the podcast and studying various aspects of real estate investing—from market analysis to financing—for the past two months.

Not the 10 percent down aspect, just the whole idea that you can deduct against w-2 income without being a RE professional.