Usually in our deals we have communication standards in the contracts, some examples: We are required to send full financials every quarterWe are required to respond to inquiries from investors within 7 daysWe are required to communicate any changes to the operations team (general partner removal from position, change in asset manager...etc) within a certain time period. 

Make sure you know how the quality is of your contractor and how long it's going to take.

In addition, targeted searches for "apartments 77008" and "greater heights apartments" have lower competition which provides a great opportunity for organic and lower cost of acquisition.Household Composition: 77008 shows balanced demand for both family-oriented housing and non-family units, promoting investments in single-family homes and high-quality apartments. 77063 indicates higher demand for rental units and smaller homes, focusing on apartments and affordable housing options.Despite higher entry costs and a lower percentage of renter-occupied units, 77008 appears to offer better prospects for appreciation and lower vacancy rates, making it a more suitable choice for investment.Greater Heights OverviewThe Greater Heights area (77008), often referred to as "The Heights," is renowned for its prime location offering a blend of amenities, top-rated schools, and abundant job opportunities.

You may also have to get your "hands dirty" in order to make these properties look nice or up to your standards. 

We’re wondering if these fees and processes are standard for short-term rentals.

These capital gains are taxable income at the standard tax bracket ranges.Long-term capital gains: Property assets you hold for 12 months or more before selling.

The investors that are buying into this development are very quality high and once the builder is out and the homeowners over the HOA, it will be a really well run system.

Two wage earners are going to have an easier time making rent than a family where there is only one paycheck, depending on how high such paychecks are, and in both cases you would look at the total household income.Stick to your guns on what you said you wanted, but when you are not in the heat of the situation reevaluate your standards to make sure they are still serving you well. 

This property you are looking at is either a bad deal or is standard. 

Trying to find quality subcontractors and writing proper contracts I would not recommend for somebody outside of the construction industry.