The anticipated deal will have a mortgage for 20 years and want to make sure that if someone decides to leave the partnership that the finances of the property remain healthy. 

Might add a little pressure on your nerves but this is the game you chose to play be becoming a landlord, and you might have anticipated this occurring.

If you anticipate appreciation in the new couple of years, you may be better waiting because with a higher property value you may be able to pull more money out.

You need to anticipate how much more equity you will have in one year.

What does your anticipated SOW look like? 

From my (extensive) research and long list of books on the topic I anticipate many problems which will just have to be addressed as they come up.

Yes, I anticipate that any bidding with a party who intends to be the primary resident will exceed my "investor's budget". 

It doesn’t sound like the inspection was a big part of your costs...I am anticipating that as a bigger portion in MF than in your commercial example.

Find out if there are any special assessments currently levied, or if they anticipate any soon, whether or not there are any lawsuits within the association and of course whether or not they even allow short term rentals because some don't.

But, what if there is more clean-up and repairs needed than you anticipated and the unit has to stay vacant for a full month?