Assessing the seller's professionalism and sophistication is critical in deciding the level of detail required in this procedure.

Also any STR locations that are viable options fron cash flow perspective and friendly regulations?  

Creating customized procedures is going to result in more work, more mistakes, and more frustration than it's worth. 

It's a highly nuanced industry that isn't very regulated so you will need to know what you can and cannot do legally and then create some personalized guidelines around what you want to fund and what you want your returns to look like.

Nevada is a unique state in it has a lot of hoops to jump through for Hard Money Lenders to lend in (versus much less regulations in most other states) - not impossible to find by any means, but Nevada is going to limit your options

What is the procedure if you are not happy with the work done or the quote they find for you?

You can get a house for $100 per night which makes all of the houses unprofitablePlus there’s a lot of regulation limiting occupancy, etc. etc.There’s tons of houses on the market for sale right now in the Poconos at very inexpensive prices, because no one is making any money on their STR‘s so everyone has to sell.

I live in Sarasota County (outside of Sarasota City), FL and trying to understand the rules, regulations and loopholes with STR properties.

Ensure you understand property laws, taxes, and local regulations.

Too many arcane rent control regulations to trip you up.