STRs require more hands-on management, but it’s a viable option for reducing your taxable income without needing REPS.You might also consider a cost segregation study to accelerate depreciation on the rental, creating larger upfront paper losses.

If you buy a regular deal with a regular down payment in a regular neighborhood, you'll probably lose money in the short term and be cash flow negative. 

Is there any particular maintenance that is required in a regular basis?

I would regularly update your photos to reflect seasonal changes or recent upgrades, ensuring they are high-quality and well-lit.

It means they can help you accelerate the depreciation on the property, which will help you lower your taxable income  

However, you could convert the rental property into your primary residence, live there for at least two years, and qualify for the Section 121 exclusion to avoid up to $250K (single) or $500K (married) in capital gains, though depreciation recapture remains taxable.

This allows flippers, live-in flippers and regular joes to have another route for their financial or home owner goals.

We as Architects do this regularly.

Insurance Proceeds and Taxability: The insurance payout you receive is not "free money."

This is good news due to future increases in Taxable Values being capped:)@Nicolas Munoz The City of Detroit offers many 2-4 unit properties, allowing an owner to live in one unit and rent out the rest.