Learn how to wholesale properties, take homes subject-to, use your license to help others, etc.Good Investing...

More frequent turn over, longer turn around, tenants are harder on the properties, and his appreciation is much lower year over year than his NYC rental.  

The deposit belongs to the tenant, not you, so it shouldn't be subject to any terms outlined in the PM Agreement.If you have a written contract, I recommend you dig through it carefully to understand what you agreed to.

We have the most activity and most frequent groups (1 main meetup and 3 subgroups each month).

Hi Matthew, checkout this post i just did on this subject: https://www.biggerpockets.com/forums/617/topics/1161394-call...

If there's a hole, it may be a red flag.b) sensitivity analysis: I examine all the assumptions, and make sure I can live with the worst case scenarios.c) "Stall and see": if they are getting money over multiple years, and there is no penalty for investing later, I would usually wait so I get some real performance data, versus having to look at theoretical pro forma information.d) Recession stress test: I will not invest in anything, until I subject it to recession level stress and see if I can live with the result.

I was offering one company resource and what they say on the subject. 

Thank you @Greg O'BrienI found this one, not sure if is the one you are talking about but it specifically says that not because a rental is considered active it means that it is subject to Self Employment tax: Memo 202151005

He specifically mentions ”make sure you do not provide substantial services so that you report the STR rental income on schedule E not C and so you are not subject to 15% self employment tax“

If the new property has less of either asset class (1245 or 1250) then the difference is subject to tax at the rates mentioned above.