The person I connect via email is Jeff, whose signature also says he's Chief Executive / Loan Officer.

Needless to say, these late-payers are grinding down our tolerance and we are thinking of cashing out and moving onto a different investment or something within reasonable travel distance.

I understand this concept once the option is executed,  but not sure how this would apply prior. 

There is also niche traveling progressional that could compliment an STR.Which has been the better success rate for investors in the area?

Buy a couple rentals, quit your job and travel the world is not realistic (anymore).As a city we have a lot of problems with OOS investors who do not take care of their properties. 

So just recognize this could be lengthy process if they default.If it was me, I would take it as a non-refundable deposit with a letter of intent and a purchase and sale agreement that the money is a down payment, is not refundable and they must execute the closing by a specific date otherwise they forfeit the money.

Zach & his team have been an essential part in helping me to develop this strategy, and most effectively execute it to make my passive income goals a reality!! 

None of which are indicative of a GP's ability to execute on a syndication with or without economic headwinds or tailwinds for that matter.

They way things are communicated or how they are executed can have disastrous outcomes. 

I am working on 2 sets of plans to develop one lot and add an ADU to another so that I can show lenders when they request plans on execution.