The Board already spends funds on things owners disagree on, such as expensive vendor contracts where a Board member gets a referral fee or is part of the contract.

Hypothetically, if the base were to relocate or dissolve, that area would get crushed.

Agree Google nmls - funny on Facebook where 99% of private lending groups that are public are scam artists you get the "well license isn't required"I reply to this noting that while you are correct in some states - chances of a scammer with a nmls license are less than 1% while those without is 99% on sociale media 

You state, "your lender" - I admire the loyalty but also would recommend you get a minimum of 3 quotes (at least two from mortgage brokers).

Getting an LLC in place from the start can provide peace of mind and give you a chance to familiarize yourself with the process before expanding your portfolio.

If they think they have an "Airbnb" Unless they own the publicly traded company, then they only have a STR, or a vacation rental if they have a nice place/location.

If this is a Class A property in a Class A area, you have the least chance of getting a bad tenant. 

Quote from @Jimmy Rojas: I live in Arizona and homes here are sky high, youd be lucky to get %6 interest rate, I would be a 1st time home buyer, apart from being 1099 employed would Trumps real estate plans benefit the little guys like me? 

Focus on getting your finances in order, setting achievable goals, and finding a mentor or local real estate groups to guide you.

Lots of ways to get wealthy in real estate other than buy hold.