If there are design or structural issues or consolidations you will want to talk to some architects and or engineers for proposals prior to meeting with the GCs 

I know of a few turnkey Airbnb-ready (non HOA) Scottsdale properties that were recently listed, so if you need any info or background or MLS searches, reach out and I am happy to provide any insights I can.As a side note, we are watching STR legislation carefully as there has been some backlash against large corporate party houses, renting to large parties that have riled up neighbors, especially in Sedona.

.)- It appears you're also across the country from this borrower and the proposed property so you can't personally meet the borrower or monitor his progress if you decide to fund the deal.All of the above just adds to the risk of loaning on this deal. 

I proposed that he carry the note for $50,000 but without payments for 6 months. 

The language in the proposal is this: "Any canceled orders will be subject to a 20% restocking fee." 

To give a little background,Selling agent of a property proposed a cash deal and reached out to me about an offer that I might be interested in. 

In light of the recent changes to legislation we were optimistic about the process.

Become an expect in your area.. up and coming legislation that will impact real estate market, developments happening because of demand of jobs and housing, new companies setting up shop.. adding value to other investors will be appreciated..Best way to network and be recognized for it

I assume my friend should dig into the details and ensure the proposal has specific materials (e.g., "freon free air conditioner" as opposed to "air conditioner") before agreeing to work with the contractor?

No one is proposing changes to that loan.