I've read a couple of Brandon Turner's books now and have been getting really into the mindset to start this journey.A couple major items I'm initially thinking of is where to start.

Year 2 had some large expenses, including some CapEx items (water heater, roof).

There are three items required to make a successful partnership - Time, Experience, Capital.If you are a syndicator, you are likely expected to have time and experience.There is a lot that goes into being a competent syndicator - Proper communications, finding a good deal, communicating quarterly updates, networking with lenders, contractors, PM companies.You can gain experience by doing your own deals or working for someone who does(Ideally both).I personally think you should cement your experience before worrying about OPM.Best of luck

With the savings from reduced housing costs, you can reinvest in more properties, gradually building a diverse real estate portfolio.

@John Underwood good feedback I appreciate it.I am viewing the property Friday so will have a better POV on landscaping maintenance then.I hadn’t considered the other items you mentioned, so thank you!

Tech for most part is just a deployment item not innovation, utilizing tech to automate and do, more efficiently, what was done in antiquated manners. 

It could be 24 hrs if you are not checking these items.

I know very little about legal precedent but I'd expect the major meter manufactures (selling into the utility space) to be well incentived to challenge these items best they can, and they have money.Here are the issues, and the reasons that the difference between an air forced system and a boiler/hydronic system are not meaningful for this discussion (ie efficacy issues of sub metering exist for either when method of measurement is measuring heat at point of delivery):In either case, the blower (or pump for a boiler) is the method of 'moving' either air (central air) or water/glycol or equivalent (boiler etc). 

Take each of your line items and develop both the next lower level of detail and scaling. 

VRBO collects the tax for you as a separate line item on top of your rate.