The lender rep or broker you are working with should be able to walk you through each step so you have a firm understanding of what has to happen in order to get your file to closing. 

To thrive in real estate investing, you must maintain a firm grip on your finances.

But, you'll need to get with an REI-savvy bookkeeper/firm to help you set it up since it's not an REI-specific software.

This is why very often "buying for cash-flow" has less than desirable outcomes.

Buying quality assets that are in a desirable location and in good condition with a modest amount of leverage is IMO the only approach that I feel comfortable recommending.

Tampa for example, the most desirable STR's are also very desirable to owner occupants (near beaches, near downtown, etc). 

suggest you find a different attorney firm to work with...they'll take a cut, but worth it.

Work with your attorney for what is needed to insure all subcontractors get paid by the General Contractor.Make sure the insurance covers Construction period and also materials.Talk with your Commerical insurance agent and they should address the above questions with you.If this is an older facility make sure your engineering firm has covered Fire Suppression systems and any Storm pond or drainage systems. 

Lucrative STR's are some of the most desirable property types on the market (especially near the beach!)

It seems you and your husband have the ability to make a property more desirable and I would try to stay local for the same reasons you listed.