I think it's a great way to start investing as it reduces the amount of risk each partner carries.

Are they rejecting it or just reducing the amount?  

All cash no inspection purchase from an investor reducing his portfolio by 10 properties.

Since it's only been 3 months, I'm looking for ways to reduce my tax liability. 

It is a way to reduce risk assuming your existing residence would have good margins.On a practical basis, investing close or far depends on how involved you want to be.

However, I am going opt to after landlords and rent their properties for AirBNB to reduce the upfront cost. 

Hit that and they're profitable, lower than that, they're loosing money.There are different philosophies on this though.....some people want it full every night.....some people would like quality over quantity, or minimum stays to reduce turnover or to attract a different kind of guest.

I think @John Warren nailed it though....if you send in a plumber to all the united to check faucets, toilets, valves, etc. you could probably decrease a lot of small leaks and reduce the bill somewhat significantly. 

Lower leverage reduces returns, however in this market the risk/return profile of a lower leverage deal is much more attractive.I've syndicated over a dozen MF projects utilizing a floating bridge loan, however in this market we are only closing with fixed rate, lower leverage debt.

I’m trying to do a cost segregation on a duplex I purchased and rehabbed last year, also looking for a tax guy that is familiar with them and can help me reduce my tax liability with bonus depreciation.