Although I dont have properties in your target area, I'm a developer and have experience with short term rentals so feel free to reach out.One think I would recommend is to check your competitors and see how much they are charging and what types of experiences they are offering to the guests.

I think there are 2 options - either get more info and develop a strategy or back out of deal.

Honestly, your best bet is to actively network, read books (boring and interesting alike) and listen to podcasts to develop your knowledge.

We were able to identify 2 properties (A & B). 

If it's a B class property laminate counters are appropriate, stone and hardwood will maybe help at time of sale but you will not recoup your expense if you over develop the property.

I am a new investor who is looking at a possible development deal, something I have never done before.

You can run your numbers.....look at particular condo developments, look at the seasonal rates on realtor.com/trulia or wherever then look at purchase prices on realtor.com/trulia, etc and run your numbers.

With this info they could also easily identify all illegal rentals and smack them with fines too.HONOLULU (AP) — Hawaii is seeking to find vacation rental owners who aren’t paying taxes by getting Airbnb to turn over rental records.Hawaii News Now reports the state Department of Taxation filed a court petition last week to serve an administrative subpoena on Airbnb for rental documents dating back to 2008.The department is investigating vacation rental owners’ compliance with the general excise and transient accommodation taxes.State Director of Taxation Linda Takayama says the department’s goal is to get the taxes paid, which could involve penalties and interest fees if owners haven’t been paying.Airbnb in a statement said it has received the request and is reviewing it.

My Grandfather was a entrepreneur with fingers in  building/developing/property management/patent trolling/window and door manufacturing...  

Overall, I like how you identify their potential pain point and offer a solution along with neighborhood-specific language.