I would appreciate any insights and additional things I may be missing.

Additionally in terms of a GP/ LP relationship, would preference of LPs create the same dynamic in choosing one GP/Sponsor investment over another, if all technicals and numbers are the similar between two investment?

I think they contain solid information and will help lay a good foundation as a beginner (Haha, I'm completely new to real estate as well, btw)I'm also going to be reading the following books, and hopefully I can finish all by the end of this month:1) The ABCs of Property Management2) The Advanced Guide to Real Estate Investing3) Long-Distance Real Estate Investing How to Buy, Rehab, and Manage Out-of-State Rental Properties (this might be the most important one to me personally)4) The Book on Investing in Real Estate with No (and Low) Money DownIn addition to reading, I'm consuming crazy amounts of youtube videos, and I'recommend you do this as well.

There should have been change orders alerting you of the additional charges, which would have given you the opportunity to make budget decisions.Check your management contract and check all your conversations with the PMC.

In addition, 100 units would necessitate 100 accounts.  

In most single family zoned areas adding a single ADU is not a value add meaning it will not add more value than the hands off cost of the addition.  

HOA is currently $172/month, with and additional $44 for club fees, covering club amenities, including a gym, boat lift, a restaurant etc. 

Very good point.In the case of Arizona, I have been unable to locate any state law / code that suggests Arizona may have additional regulations. 

Additionally, not all transaction types support Locations, meaning you'll have to create journal entries to correct them—requiring a solid understanding of debits and credits, which can be time-consuming and error-prone.Instead, I recommend biting the bullet and upgrading to QuickBooks Online Plus for each entity.

In a hot market, the unobtainable thing is the most valuable.