This scenario requires a confluence of events:- Significantly Negative CF- Insufficient reserves relative to negative CF- Overpaying OR Market DeclineThe personal guarantee just opens the door to the damage from the above situation overrunning everything.

Partners are difficult to find as well because most people at networking events are either have no experience, looking to remain more passive or way too experienced and have their own dream time.

But, in the event you really are persuaded that it is important to separate each asset, ensure that whoever is managing the books/monies on the LLCs are doing it 100% correctly as even a small mistake can allow would-be litigants to pierce the corporate veil and render all of it in vein anyway. 

I realllllly don’t want to sell because I don’t think it has had enough time to appreciate, but I also don’t want to waste thousands of dollars every year in the likely event that my co-op board will not allow me to keep renting out my place.

Seasonal Strategies:Off-peak discounts or promotions: Offering longer-stay discounts or special packages for holidays or events in the off-season can help maintain occupancy.

In the event you underestimate the section 1245 assets, an audit would simply result in an positive adjustment for the tax liabillity.

There are usually 5-10 RE investor meetups and networking events each month, as well as a few very active FB pages.

We're actually having an event on Thursday where one of them is showcasing their AirBnB.

Check out the events section on BP, search eventbrite and meetup for re networking events.Good luck!

You can meet local investors by registering to attend real estate events in your area: https://www.biggerpockets.com/forums/521-events-and-happenings6.