I currently operate a few STRs so have a good understanding of that aspect although they're all located in touristy locations.

Under Declarant Control, which is defined in the CC&R's, the developer is the HOA Board. 

Obviously this person would naturally have more %Regardless of what structure you guys decide on make sure it is clearly defined!

I 100% agree with the intent aspect and that is an important premise, but the fact is in this particular situation intent for it to be personal use has been confirmed (by way of a public post).

Besides putting together the best SOW using accurate/actual quotes as @Peter Mckernan and @Alan Asriants commented above, another key aspect is tracking expenses (bookkeeping) and monitoring the budget throughout the project. 

She also provided further information - after the meeting, via email - about aspects of points we discussed.

Hi all,I have been a solo agent for a few years and recently joined a team with the hopes of learning some new things and try the cold calling aspect.

Raising equity can be the most challenging aspect of closing a deal.

Quote from @Greg Kasmer: I'm curious as to your comment on getting back in when the bottom has been "somewhat defined" - Is that defined by rents stabilizing and/or increasing or another metric?

@Jefferey EutsayIs there a specific aspect of this deal that you are hoping to get advice on?