That's perfectly fine and fair-- just keep the assets to supplement your life style in the most risk-averse and conductive to living a free life. 

You might consider investing in debt as it can be much more passive with a completely different risk profile.  

Returns should track risk. 

I used to own an Airbnb, granted in Oakley not downtown, and have several friends that own, have owned and/or managed Airbnb's and (while I am sure there are some people that are very happy with their Airbnb's), the half dozen + people I know that have been involved are out or looking to get out.MTR: I have never pursued.

I purchased a family home in CA from several family members (one of whom is my mother who gifted me her share of equity).

STR can make more money, but requires more effort and has the risks from the various attackers.  

Asbestos, given its health risks, requires professional assessment and potential removal or encapsulation, with costs ranging from $1,500 to over $30,000, based on the extent and abatement method. 

@Karen Bruck, There is an inherent risk when buying from related parties to complete your 1031 exchange. 

Each strategy has its own set of benefits and drawbacks, as well as potential returns and risks.Buying to Flip for Quick ProfitBenefits:Quick Returns: Flipping properties can potentially yield quick profits, especially in a hot real estate market.Minimal Holding Costs: Since the goal is to sell the property quickly, holding costs such as property taxes and maintenance expenses are minimized.Creative Freedom: Flippers have the freedom to renovate and design the property to maximize its resale value.Drawbacks:Market Volatility: Flipping is highly dependent on market conditions, and a downturn in the market can lead to reduced profits or even losses.Capital Intensive: Flipping often requires significant upfront capital for purchasing, renovating, and holding the property until it sells.Income Tax Implications: Profits from flipping are typically taxed as short-term capital gains, which may result in higher tax liabilities.Buying for Rental Income and Long-Term InvestmentAdvantages:Steady Cash Flow: Rental properties can provide a consistent stream of income through monthly rent payments.Appreciation Potential: Over time, rental properties have the potential to appreciate in value, providing long-term wealth accumulation.Tax Benefits: Rental property owners may benefit from tax deductions on mortgage interest, property taxes, and depreciation.Challenges:Tenant Management: Dealing with tenants, maintenance, and property management can be time-consuming and requires effective management skills.Market Risks: Rental income may be affected by market fluctuations and changes in rental demand.Liquidity: Unlike flipping, rental properties may not offer immediate liquidity, as selling a property can take time and incur transaction costs.Comparing Potential Returns and RisksBoth strategies offer the potential for attractive returns, but they come with different levels of risk.

Here are some of the key things to keep in mind when choosing an asset protection strategy for your rental properties:Your risk tolerance: If you are not very worried about being sued, you may not need the best level of protection.