-Proper SEC guidelines/filings were not followed to raise capital from a large group of unaccredited investors.

Did you have any ratios or % gross revenue costs to just get some guidelines on whether the property makes sense as an str? 

Concrete stain flooring.  

They can offer no concrete examples of how investing via the “concept” is any real advantage.  

I'm wondering about servicing these after completion on a longer term basis following a DSCR guideline as they will be rented, and then selling them in a secondary market.

No, banks do not allow a seller held second now a days due to risk and new guide line changes. 

The second home loan guidelines directly state "The Borrower must keep the property available primarily (i.e., more than half of the calendar year) for the Borrower’s personal use and enjoyment"This means that you can only book it out on STR platforms for half of the year (50% max occupancy), which really sets a cap on your max income. 

It will vary based on the lender's guidelines. 

While many of these issues are important considerations and should not be ignored or overlooked, there are other more crucial criteria that you must question and evaluate first.The critical risk criteria that you must review and evaluate prior to making your final decision on which 1031 Exchange Qualified Intermediary to retain includes, but is not limited to, the following areas:Technical capability of the 1031 Exchange Qualified IntermediaryInternal processes and audit controls to safeguard your 1031 Exchange funds and assetsUse of Qualified Trust Accounts or Qualified Escrow AccountsDecision criteria and guidelines for investment of your 1031 Exchange fundsProtection from potential errors or omissions by the Qualified Intermediary (E&O Insurance) Protection from potential theft or embezzlement of 1031 Exchange funds (Fidelity Bond) An experienced and professional 1031 Exchange Qualified Intermediary will understand these concerns and should be happy to discuss these crucial issues with you.

It’s smart to review the HOA guidelines before buying so there aren’t any surprises.