"I think we all agree that being fully transparent is beneficial to real estate investing"....Let's try LEGALLY REQUIRED. 

Scaling up properties requires cash flow or equity, continuous education, networking, mentorship, patience, and persistence.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Is there any sort of requirements for the student to be accepted into the program or does the 8K make you automatically accepted? 

A "lake house" might be in a residential zoned area where a commercial use would be prohibited or at least require a variance (approval) to make an exception.

It may not be required, but we are generally in a better place to absorb the loss than our tenants.

If you get a quote significantly below the numbers above you need to ensure that the contractor will actually execute the work and perform it to the required standard. 

Also, content or manufacturing industry doesn't punishment seller for using multi platforms.

Converting the partnership into a Tenancy in Common (TIC) could work, but keep in mind this requires dissolving the partnership structure and redistributing ownership, which may have tax implications depending on how it’s handled.

So, communication and assignment issues, as well as not being able to explain the maintenance issues and the required work.3) Proper documentation and quality of work issues.