Each option has different implications, so choose based on your financial goals.

In addition to managing 65+ units in the greater Tampa area I also am a broker who almost exclusively represents investors buy the best available STR properties both on and off market. 

Stop reading if you want.2) I couldn’t guess what “There is a 6 months of grace period before interest payment begins” means.3) They call their $3555 charge a “Loan Fee,” stated a few lines up as 2%. 2% of $235,000 (loan amount) is $4470.4) Do you seriously believe the loan fee, “… IS 100% REFUNDABLE IF THERE IS ANY DEFAULT FROM THEPART OF THE LENDER OR IF THE BORROWER CHOOSES TO TERMINATE THE LOAN.”5) It’s okay to pay an appraiser directly.

I am really inspired by people who a take something that 95% of other investors would pass on and make it work exclusively for them through sheer will and creativity even with bad market conditions. 

Upon contacting Rent to Retirement, we were told by the rep that Delta "cut off" communication with Rent to Retirement and if we choose to continue with Delta Build, we will have to resolve issues with them ourselves as Rent to Retirement can no longer speak on our behalf.

Either would be a great option; I'd probably choose Roseville because it's more established, but the City of Elk Grove deserves a lot of credit for its impactful growth programs, so it wouldn't be a bad option. 

Wise is an international bank that allows you to deposit and display statements in whatever currency you choose.  

Also, even if it's true that is has been working to avoid the DOSC so far, my understanding is that any "outright sale, deed, installment sale contract, land contract, contract for deed, leasehold interest with a term greater than three years, lease-option contract or any other method of conveyance of real property interests" can trigger the DOSC (quoting the bank definition of transfer or sale), meaning that banks could still call these loans due despite the executory contract/land contract if they so choose. 

If you choose to move forward, I recommend having a backup plan in case Hawaii outright bans STR.

This takes a little more work, but it's the fairest and reduces the likelihood of tenants that squander utilities.If you choose #2 or #3, there are considerations:Start with an average.