This would be my first JV and am open to any advice suggestions on the best way to proceed.  

Does this matter if you're not optimizing for building a ton of wealth to pass onto kids? 

I've seen this in the news.This doesn't affect me because I'm small time compared to these big companies.I also don't purchase any pricing software.

This is going to be a very individual scenario, but most likely it isn't worthwhile.

It wasn't feasible to run an exhaust vent in the older condo that wasn't built with en suite laundry, so this was the alternative I installed.

You should reach out to @Melissa Haworth she can get the actual numbers/rents on STRs in the area to help run your comps.Each building is different, each area is different, it is important to find accurate data to make good decisions.

This makes a huge difference when it comes to removing tenants. 

Do you think this might be your area? 

To help expedite the rental unit approval/inspection, you can also talk with your local housing provider that runs the Sec 8 program what basic items they look for and make sure you have those covered. 

This is a common issue when dealing with these programs.