You might get transferred a couple times until you reach the right person.

Who is personally going to be liable if the guarantees aren't met?

Having trusted boots on the ground makes all the difference when you can’t be there in person.

If the trust is disregarded and you and your wife file a joint tax return the property is reported on your personal joint return. 

This isn't something I've been able to keep up with personally, so I hire property managers who rely on legal counsel to keep up with it.

Second- these developments where the same person develops, builds, and then requires you to use them for management- they always suck.

Like @John Underwood said, your cleaner and handy person can be of great help getting things done.

I personally again in my opinion only.. but these guys could be fake lenders.. for sure HML  do not have a requirement that they can only lend to a corp..

. $50 per bedroom, so a 4-bedroom house will cost you about $150~200consumables - bathroom supplies, kitchen supplies, beverage supplies: $20~30 per week, depending on how much you providewear and tear - towels, linen, kitchen utensils, some furniture: $1000~2000 per yearRepairs/replacement for things that guests break or steal:  $1000~2000 per yearAlso, if your personal use is less than 14 days a year, the entire property's expense is deductible against STR income, but if you use more than 14 days, then you will have to calculate the proportion of how many days it's rented out vs how many days you or your family uses. 

The person in the response above who got crushed by a $5000 repair never did have $100-200/mo. cashflow.