Also, in a mainstream asset class like value-added multifamily, I see no reason to take a risk on a sponsor that doesn't have full real estate cycle experience or that lost anything more than a small amount of money (and prefer no money lost).

As an investor, you'll need to wait until this period expires before your offer will be considered.Additionally, Freddie Mac may require proof of funds or a pre-approval letter with your offer, and they often prefer cash offers or conventional financing.

There certainly may be some loss aversion that drove Tyler's choice.  

They are both good; personal preference.  

Is there another mountain area with much higher cap rates, even out of state but preferably in the upper western US?

Quote from @Himateja Madala: @John Underwood with 6bed/6 bath I am targeting more multi family travelers who prefer staying together.

Buying your first in Jenks was a solid choice.

Mark Vorkapich of Gladstone Strategieshttps://www.gladstonestrategies.com/I do agree with the above on checking with your current CPA to see if they have a preferred provider - sometimes it is easier and with better results if your team already has a good relationship. 

Find a local property management company that does the bigger cabins and they'll help you identify the right build choices to help maximize your rents.

I had generally been just saving my expenses in google sheets to further organize later and receipts in google drive since I can more easily access and upload all my paperwork from my phone and access my drive from anywhere.I have and use excel for some things, but I generally would prefer something more geared towards real estate.