I can put a combination lock on it but wonder if that will satisfy his requirements?

Those people overlooking what it means to “materially participate”Here’s the Material Participation Criteria:Spend more than 500 hours on the short-term rental businessDo substantially everything for the STR businessSpend more than 100 hours on the activity and no one other individual spends more time than you doSignificant participation activity for more than 100 hours, and your combined activity in all significant participation activities exceeds 500 hoursParticipating in the business for five of the 10 previous taxable yearsPersonal service activity (non income-producing) for three of the previous taxable yearsRegular, continuous, provable participation in the business for more than 100 hoursA Cautionary Tale: The Story of JacksonLet's take a moment to learn from the mistakes of others.

Whether it's real estate investing or running a small business or a combination of both, I just know I want my income and financial stability to stop being reliant on a boss or corporate entity.I've got a couple of interests that I'm flexible on. - Long term residential rentals: Primary interest to start building.  

@John Davey With an AGI over $150,000, all rental income and losses are bundled together and cannot offset ordinary income due to Passive Activity Loss (PAL) rules.In your example, the combined $3,000 net loss (from rentals 1, 2, and 3) is carried forward since your AGI is above the threshold.

BUT, being sued, and loosing is extremely rare if you're reasonable careful.

I opened my account on Aug 15th, and during the last ~3 months, my portfolio has gone up by a combined 1% (appreciation and dividend). 

Purchase price: $189,000 Cash invested: $15,000 Welcome to the crown jewel of Center City, Philadelphia—a standout property in my investment portfolio that perfectly combines elegance, location, and profitability.

LTC/LTV also lower which combined with depository relationship makes borrowing even more capital intensive.

@Grace Hartman I don't mean this in a negative way but you're in this situation due to lack of experience, terribly high contractor quotes, or a combination.

So, it's rare.