I would be wary of buying a home in a residential neighborhood in ABQ with the goal of having a STR: Only CA rivals NM in terms of economic governmental tampering.

After that you need established goals. 

Yet.Look at your long-term goal(s).

You need to end goal and then you can reverse engineer the numbers.

You need to start with a goal. 

It is definitely a goal to have a STR in the PNW one day. 

You both have to be on board or it doesn’t work, but if you work together and have a goal, then each step towards that goal feels more rewarding, even if it’s just saving $x more a month towards a future down payment.

@Eric Formiller It really depends on your goals and investment strategy.

The goal for this project would be to lower each owner's personal monthly cable and internet and VOIP bill by having the HOA buy these in bulk hopefully for a total lower cost per owner via their monthly HOA fees.Has anyone in the Atlanta GA (Kennesaw) done this type of 'conversion' and was it cost effective?

You could work with a private lender or even a hard money lender, depending on what the goal and timeframe is.