Remember there is some bonus content to help you.

The added bonus is this sets things up beautifully for a generational system, because upon any persons passing the asset never actually sells, it's simply an adjustment of beneficiaries of the trust, thus, sorry Uncle Sam no shake-down-upon-death, sorry bud. 

If expenses can run through a card that gives points, or cash back, that is added positive that you may not account for in the initial analysis but could serve as a nice bonus. 

Bonus: How much cash did you start with?

For instance, CA does not recognize REPS and does not allow bonus depreciation.

The access to all the cool tourist stuff is a bonus.

You may be able to accelerate depreciation and perhaps even take advantage of bonus depreciation.

But if you are interested in becoming more passive, you might consider a "Lazy 1031" strategy where you invest the proceeds from your sale of active property into real estate syndications and use cost segregation and bonus depreciation to offset the taxes.  

If the goal is to offset your high W2 taxes, it seems like you have two possible routes: Your wife could qualify as a Real Estate Tax Professional, or you could use Bonus Depreciation on your Short Term Rental to create a paper loss.

@Maria G. office equipment is depreciated over 5 years, but the computer should qualify for bonus depreciation allowing you to take 100%.