I can certainly see what you mean about using SALY as a friend for most years, but unless you want to stay current on all the state/federal income tax laws, you may want to seek out a professional every few years to double-check.

However, given our current state I'm preparing to set-up my own website and/or post on various channels that don't appear to offer the host insurance and I know asking the Guest for security deposit or to run background checks can be a deterrent for short stays.

I am not sure where to begin. with your septic and well you'll need to do site layout first with a land planner or the county. after that you'll need to check setback requirements and design plans and start budgeting with a builder. once you have a confirmed plan set and budget broken down and builder selected then you can talk to banks. most people think it starts with banks 

You should check out CFRI, the local chapter of the National REIA.

So, unfortunately, you're likely to pay close to 20-25% on the $400,000 (based on my loose math here -- please check this with an accountant who is familiar with Idaho).

Check out LendingWise which has a lower monthly cost than most loan origination and management software.

I'd definitely check that one out.

The con here is evaluating the sydicator, checking their due diligence and financials are correct and conservative, and then making sure no games are being played. over the past few years, many folks including myself have found themselves victim to overly aggressive syndications where the operators were reckless with investor funds. 

I'd check Furnished Finder and Airbnb 30+ day stays see what's out there and what they are renting for.

Buy 4 more properties - one approximately every 3 months, based on the following logic = always fill existing property with a tenant prior to moving on (I'm new, and this is my way of managing risk); build resources to purchase next property (I have pretty decent purchasing power right now through conventional lending with my current job, and I also have a private lender ready to loan on my next property, and I also get a quarterly commission check that provides a nice financial bump every 3 months); finding a property takes time, but it is worth it to find the right property in the neighborhoods I want to invest in, at the right price.