. - Management and resources..operate it like a hospitality business with very clear communication with guests and reliable crews both for cleaning and emergencies. - Consider guest amenities, house rules..hot tub..pet friendly etc- TLC.

This business seems very very shady.

I do think it is important to note here that I offer specialuzed service that prepares properties for the next owners/tenants, post-construction, showings, etc.

Almost every few weeks there is a news story of new-construction homes burning down sometimes whole subdivisions.

Now, other tax incentives like simple business write offs for expenses to set up the properties as an STR that’s most likely still something you can write off against your rental income gains.

I also use PayPal and Venmo.Some just deposit directly into my business account.I make it as easy as possible for my tenants to pay me.

I have managed my rentals on a very basic spreadsheet (poorly managed) and it is time to clean up my accounting and legal structures.Can anyone opine on a cheap and effective software for the accounting side of the business? 

I've reached general partner status and am growing my syndication business every day. 

Build relationships and don't treat every person as a transaction, and these types of things won't happen to you.We lend to plenty of investors who use the same wholesalers time and time again and don't try to do any of these things because the numbers work for everyone.Build a quality book of business and none of these things will be issues.

True, you eliminate residential tenants, BUT it is a real business with employees, taxes, etc etc etc.