Well it will need to be life changing events like having kids, new job, divorce, taking care family members etc but the rule of thumb is to live there for at least one year then being able to rent it out and converting it into an investment property.

It's also not STR PM with a few tweaks- as this might fit a boarding house. 

Our STRs are all booked for the holidays majority wise but the one week that is slow across the board is the week post-Thanksgiving.

you'll be blown away, it's not a kids game.

But if hold on them for awhile and pay them off, then your family and kids and enjoy the income they produce.

I've been on this board since 2010 and haven't found an example yet.

Most cities do not allow "boarding houses" and/or have a "no brothel" law. 

I also find that depending on the tenant, my one Airbnb property has less wear and tear because it's constantly cleaned and maintained versus my other rentals where the families living there settle in and accumulate stuff - which makes it hard to deep clean regularly (to my liking) as well as just the constant daily wear and tear from kids etc. 

If you are single or married without kids and an understanding spouse.

For instance, unless specifically called for in the Articles or Organization, LLCs are not required to have Boards of Directors, Officers, annual meetings, bylaws, resolutions etc.