I am trying to find the most relevant information for our strategy to ensure we get the best joint tax deduction options against MY W2 income.Is the following strategy correct?

It has also gotten much more expensive unless you are willing to do such high deductibles that it makes you feel uncomfortable.2) Remodels: Not only is cost of construction high, but homes are only getting older, which means the projects are getting more extensive.

Have that individual report everything and then have an other deduction subtracting out the 50% to be reported on the other partners return. 

Determine if the payout (post-deductible) would even be worth it.

For the landlord insurance, builder finance have given their quote of 1800/yr premium with 2500$ as deductible.

That being said, you have plenty of reserves where I think you can make a significant down payment and would be able to find something that cash flows.Plus its better to have that money in some kind of asset that grows in value, tax deductible, and bring in income; rather than it sitting in the bank. 

It's calculated from the booking subtotal but excludes the guest service fee and taxes but is automatically deducted from Host payout.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

The cheapest is not the best, you don't want to lack coverage and be left with a high deductible. 

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.