My guess from reading the information you've given is that your LLC is going to be considered a related party in a 1031.  

@Brett RiemensniderIt's great that you're taking the time to thoroughly analyze your potential investment and ensuring you're making informed decisions.

You can find the information you need on BP for free.

Curious what people are paying attention to when making a buying decision for a STR.

Congrats on making the decision and now taking action.  

It was the best decision I ever made.With their expertise and my determination, we tackled those issues head-on.

You will never know everything, but you need to know enough to make an informed decision that fits with your goals and your level of risk.

who gets to make the decisions if there's a disagreement between you two on, say a lending opportunity or a prospective tenant?

So look around, interview other STR owners so that you have sufficient information.

Depending on how much of rehab you are planning to do to the property some it might be a wise decision to go out there and spend sometime and take care of those rehabs yourself before handing it out to a PM.