. :)I would add "Is there an ideal avatar that you are looking to serve" to the mix. 

More guidance: You seem to be mixing up IRS Short-term rental requirements and REPS requirements to qualify to offset rental losses against non-passive income (W-2, 1099, etc).

For the mixed-use building idea, you’re right to be cautious about vacancies as a remote investor.

I called the zoning department and they are telling me this is a Mixed use building (N zone).

That also plays a major role in what to do. end of day stocks and real estate over time provide the same return on average - so it is really based on the individual, their experience and desire Thank you. 

There is also a mix of snowbirds and part-timers from southern states who consider this home.

It seems clear that it is in lieu of a 1031 since UPREITs are under sec 721 so the two don't mix.

@Sean Gallagher not a sales pitch, but this is what we provide for investors in Metro Detroit:)Understand that if you hire the latest & greatest PMC, many grow using poorly trained VA's. - Your portfolio will suffer:(You want a PMC that has great systems in place, including a great portal where you can keep tabs on eveything.You will also need to manage your PMC on a regular basis.

-Large cities with the largest 👇in rent: Indianapolis IN, Providence MA, Denver CO, Hartford CT, Boston MA, Atlanta GA (Construction Coverage).

It offers flexibility as a landlord to be able to offer more or less rooms as needed, protection to the landlord in that you can hedge with adding LTR or STR to the mix, and simplification to the business as your only dealing with one address.