Our last deal we engaged a mortgage broker that also brought a Private Equity LP (Limited Partner) to the deal. 

Hey @Eli Edwards,In my limited experience New Western, and any other larger company who is geared towards wholesaling properties, generally doesn't leave much on the bone for the end buyer. 

Hi Marc - Aircover offers some protection for damages caused by guests, but it’s limited and doesn’t replace having dedicated STR insurance.

They also are thinking of getting a different PM to manage it after they can gain back control but would like advice on doing so.

So, not really passive.Investing in rReal estate offers a lot more control than investing in stocks, but it also requires an investment of time to do well.

Also control the thermostats so the tenants don't jack up the heat in the winter giving you a massive bill.

Credit cards have the same limitation on the amount you can borrow and will likely end up costing more than private lenders.

@Ed Lopez what controls do you have over what they decide to do?

The transfer may trigger gift tax reporting if the value of your share exceeds the annual gift tax exclusion limit ($17,000 per recipient in 2023).

As to asking the IRS reps, let me limit my comment to just three letters: LOL