I invest both actively and passively and have allocated more capital to passive investments lately. 

It's going to be about  the facts of the case.But my guess would be that your accountant can separate that area out and allocate a certain % to investment use - and depreciate and allocate expenses and adjust basis accordingly. 

Some banks allocate how much they can loan for different amounts of money.

I’ve studied Dave Ramsey and have an allocated spending plan.

When you create an operating agreement there are some limits to what you can do but you could allocate him all depreciation in any given year and it would hold up as long as your agreements met the substantial economic effect rules. 

@Caleb Clay How much time and/or money are you willing to allocate to these tasks?

You could ask for a higher deposit for the property to allocated for the cost that would be incured for a leasing with a higher turnover.Overall, Can you sleep at night with the decision that has been made with the property and your business for the short and long term?

What would worry me more than steering residents is allocation of staff.  

@Matt Said, There will be some accountant calculation needed but you should be able to pull out your original primary residence capital allocation and profit from the primary residence side tax free.The allocation for the investment side is subject to 1031 regs which are a little different. 

I am digging into what projects these funds would get allocated to.