We decided to take slightly lower return by selling the property as a fully permitted project, and mitigate the construction and market risk.Lessons learned?

You should look for ways to mitigate your upfront costs as much as you can including securing the property itself.Bulk PurchasesIf you're renting from a property management company or a landlord with several properties that fit the profile and are in the right location then you can offer to do a bulk acquisition and to waive the security deposits and other costs.

I wanted to pay for everything but mitigate people using too much of the utilities.

A bad review or getting flagged by Airbnb are two scenarios where implementing the back up profile would mitigate the damage.   

It's easy to make a profit til the one mistake eats all of it, and that is just foolish when  mentor might mitigate that expense. 

As the HOA can require their policies be incorporated into Leases, which the Renter signs, and the Renter and owner could co-sign the pool access agreement to get the access card, this logic seems a little light.Anyone have experience with this restriction and have any ideas of ways the HOA can allow renters access while still acting to mitigate the financial/liability risk of allowing renters' guests and reservations that is somehow different from an owners' risk?

Is there any way to mitigate the property tax burden, or are there areas with lower taxes?

I would recommend a property like this to someone that is planning to leverage a low down payment by house hacking to mitigate their cost of living. 

That helps mitigate frustrations from prospective new tenants if there are delays in the renovations.

Yes I will have to get over my fear of OOS investing; trying to educate myself ways / system to mitigate that.