Honestly Assess Your Capabilities: If you're a Newbie, Do NOT Buy Dumb Sh*^.

If your towing, make sure you get something capable of safely moving the trailer.

There is always a "dance" that goes on between how much time you spend running numbers on a property you'd like to but don't control vs spending time to control a property you don't know is feasible.Aside from inputting data into a pro forma it is imperative for you to understand the development process itself which is accomplished by creating a critical path that shows the sequential order of the tasks that need to be executed along with their timing and the 3rd party players, functions and costs associated with doing those tasks.The combined information you get from the pro forma and the critical path are foundational in forming the agreement that secures the property which will be articulated in a purchase and sale agreement or in your case a JV. 

If they aren't capable of you will need a stronger team or train them in that direction.

Put it in a separate LLC than the rentals- it's like trying having the same coach for both your ballet dancers and football players...neither will be able to be optimized.

There are a lot of players so I think you are right to soak in the information before jumping in.

Well then I would say you have covered the main players in the STR market. 

@Nick Ysidron You've had responses from 2 capable licensed agents in our local area.

I think I need that big player who is connected at the coast and do a "Bella Beach" or Ross Chapin look.  

Choose a market and see how bad it was hit during the last crash - that would be a good indicator of what to expectStudy success, like I said, it's hard to wait but the very big players are waiting.