The IRS is taking a more conservative approach and hiring more employees as @Nathan G. mentioned and you want to ensure you have all your ducks in a row + a team behind you to back you up if something comes into question.

I come from a project management & process improvement background (Lean Six Sigma Master Blackbelt, PMP, Stanford Certified Project Manager) and have applied the lessons I've learned implementing SmartSheet solutions in a fortune 100 company to my own real estate investments and have found it very helpful.Example SmartSheet Capabilities:- Dashboards with charts and reports- Workflow notifications and approvals- Formulas- PDF automation- Gantt chartsUse Case Examples:Deliveries - Given that I'm not physically present to receive deliveries I need to ensure a smooth handoff to the individual receiving the delivery, ensuring the furniture/appliance/amenity/etc. is in good condition, and staging it.

I recommend pursuing more than one strategy at a time, to ensure the best results.

Monitor your ads every 2-3 days and ensure your budget is optimized.

As a best practice, tenants should be provided with written notice of this arrangement to ensure they are aware of it and not being charged above-market rates.All the best!

In the meanwhile, HAD will inspect your property to ensure it qualifies (they will always find something wrong, be prepared).  

STRs do have liability with the rotation of guests so its important to ensure the liability is removed from you as the owner and contained in an LLC.

Even more important, ensure you are brining something of value to the table for your partner as J Scott mentioned.

That ensures you don't spend it on other things and that you know exactly how much you have available to spend on the next purchase.

Would adding a layer with a trust ensure I have a layer of liability protection?