We would eventually move into the second property and establish it as our primary residence (6-10 years from now).  

We are planning on using someone local to make sure all applicable laws and regulations are followed as we understand this is not a generic transaction.

The purpose of the trip was to establish relationships with realtor(s), contractor(s), handymen, attorney's..... 

Don't forget to research local regulations surrounding MTRs and STRs, factor in management fees if you plan on outsourcing, and assess your risk tolerance between a larger, single multi-family property or multiple, potentially distant, MTR/STRs.

We need to establish SOPs that can universally applied regardless of how stable the residents' relationship seems at the time of move-in.

The end buyer is taking over the purchase contract that you have established with seller.

- Should I use my own capital up front or try to partner with an established land flipping business to fund the deals? 

Also I would be curious to know if when franchising through and established brand if a business loan would be more suitable than a CRE loan.

After establishing this, the next most important aspect of this land would be its zoning and restrictive covenants.

I know that once I have more established relationships this side will probably get easier but it is painful at this stage haha.