We had to include language in their contracts when they renewed last summer detailing the terms of the deal.

This what Bill is saying is, in my opinion, the #1 most important and #1 most UNDERSTATED fact and detail of REI.    

But once you get tenants and leases in place, lenders will really dig in to the details. 

Do you rely on references from previous lenders, or do you request more detailed project reports?

Could you please provide details on what knowledge I lack in asset protection and point out the specific areas where I may be mistaken?

I don't think the details below are what you want to hear, but hope it provides some insight. 

I'll shoot you a DM with my contact details. 

Property access instructions: Provide the guest with detailed access instructions in either your Welcome Guide, listing description, Reservation Manager or through the Vrbo messaging platform(For example, include guidance in your listing description about picking up a key from the office upon check-in.)OrB.

Once you have your shortlist, I recommend hiring a professional title company to handle the detailed due diligence.What’s in the Guide?

Option 2 is missing too many details even for a cursory evaluation.