I'm retiring in about 18 months and i would love to get into the STR business.

Hello,Thanks for having me.  I am looking forward to being a part of some of your success as I build my portfolio.Bruce Cook

The whole appeal in REI was to maybe create a small business on the side with my spouse as a way to: eventually secure supplemental income, start building equity in RE and maybe creating a small business together in RE that would help us obtain financial freedom after hearing how risky things can be, I’m trying to learn: what are other RE investors doing to make money despite the risks around home repairs, vacancy, additional expenses (i.e property managers), etc.

your deals his dollars has been around for decades.. as long as you pay him up front.. there are not thousands of investor just clamoring to do business with newer investors who have little training and no capital :)  if your in LA and if you have no already go to some of the FIBI meetings Jeremy Roll puts together they are the real deal. 

I started a wholesale real estate business in November of 2020.

Should I be doing anything additional knowing he is running a business out of my house?  

I would say alternatively a personal business LOC but the origination charge of that alone could be 9%.

Well diversified business base, a university, access to good transportation, a strong workforce and affordable housing.All of those add up to a good long-term investment formula.Let me know if I may be of assistance.Paul. 

Regardless of that fact, I am well aware of my duty as a Real Estate Agent and the duty that I have to clients when entering that business relationship.

Since you mentioned the house is suitable for professional roommates or a family, you might also want to reach out to local businesses, hospitals, or universities, where there may be potential tenants looking for housing options like yours.Lastly, feedback is invaluable.