My last piece of advice....take it or leave it....being a landlord with your friend is a very different experience than just living with them in a rental.

My 2 pieces of advice are: 1.call Proper insurance, they specialize in short term rental insurance, 2.

Mind you, it's never wrong to bring any piece of information to the table but it's a good things to help putting it into perspective.

If there are any books, podcasts, or other resources that you’ve found invaluable, I’d love to hear your recommendations.And finally, if you could go back to when you were buying your first property, what’s the one piece of advice you wish someone had given you?

We paid $232,447.36 out to 36+ different trades & vendors for this home.This $232K creates jobs and promotes growth because it is spent and recycled in the economy, creating a ripple effect.Congratulations to the Greatleaf Homes Team for another new construction home closing today!

Clayton on SM and are still buying the real estate they promote will take note of all of this.  

I'd want to know more information to make a good recommendation, but it sounds like you would have a strong argument if everything else is the same except for location.MP tasksTenant Management:Showing properties, screening applicants, and preparing leasesWelcoming tenants and addressing inquiriesCollecting rent and managing evictionsProperty Maintenance:Cleaning, repairs, and inspectionsAdministrative & Marketing:Supervising staff, purchasing supplies, and promoting rentals (ads and website)

Offer the design team a piece of the equity OR pay a premium as incentive to keep to an established timeline (that is within their control). 

This gets your yellow letters down to .309 per piece, standard mail.

Last piece of advice is to avoid shortcuts on the development phase in an effort to make up for the added carrying costs.