I realize this is a complex concern so just looking for general advice here based on the experiences of others.I would manage bookings and client communications aside from maybe an on call service for at night.

Would like to keep the property for down the road, but realizing I might be better off to get a place in town with more space and try to turn this place into an investment property for the time being instead.

I started/continued cultivating about half dozen different commercial brokers, by taking incoming cold/warm calls from brokers for off market offers(calls I used to just hang up on) from their fund buyers and deep pocket private investors, and soon realized(as few of the brokers had warned) that off market deals for this asset are always gonna be low ball, no matter how premium my location.

Eventually, lawmakers realized the negative impact this was having on the real estate sector and created what is known as Real Estate Professional Status (REPS).

Thats pretty much exactly what im asking however I don't see why there would be any issue splitting the down payment and mortgage of a 4-unit multi family with someone else especially when you can both realize the full sec 121 benefit, the mortgage and property tax deductions, ect. 

They probably don't even realize it's happening! 

I'm only in LTRs currently but realizing MTRs may be a great addition. 

I realize that I probably need to hire a financial expert to truly assist me with this question, but I’d like to ask the community how they’d look at this situation beforehand because my wife and I are relatively new at all of this.

I realize this may require a tax pro but wanted to get an initial pulse from this community first.

But aside from that, the marketplace "done for you" deals program is a total lie and I see so many people in there every day that don't realize this at all and it's really painful to watch that.