Along with my wife, 2 yr old daughter, and one yr old son, we have two large dogs that stay indoors with us. 

A provision in the IRS code known as 72T allows one to receive distributions prior to age 59 1/2.  

I only mention it to warn you that there're MORE restrictions than just the "passive activity loss" rules that you must have heard of.One very important concept to remember, and a beneficial one, for a change: restricted (the IRS calls them "disallowed" or "suspended") losses are NOT WASTED.

FYI, one of the BP guys suggested me another name which I have spoken to yet but just want to see reviews about FrontLobby.

Not one penny was spent on any of that and continued to reinvest it. 

We already have one, sort of.

6-7k is annual cash flow.If so I would make it a LTR since the STR is not much cash flow and a lot more work.You'll likely be the one doing all the work for your partner.

First, leverage house hacking, which allows you to live in one unit of a multi-family property while renting out the others to cover your mortgage.

He owns the properties outright, has them in one LLC, and is concerned about a hefty tax bill in the year of sale. 

Obviously a problem if say you have a guest that says the AC is bad and no one can come for a week.