Here are a few thoughts and I would love to hear what others think.Real estate is cyclical and there will be ups and downs caused by interest rate movements, mismatch of supply and demand and general economic conditions related to expansion and recession. 

@Carl Mayer - can't believe I'm saying this, but Greeley is getting a lot of play for having excellent economics and being a solid place to invest.

Basic market economics show that we have more demand than supply, which pushed prices up.

We know we'll have to do 1065 filing b/c of the multi-member structure, but it still seemed easier and more economical than creating and maintaining 2 LLCs... since we dont' have plans for many members or lots of properties, etc.

I’m not an expert by any means.  

For this reason, does anyone have any recommendations on who I should reach out to maybe zoning experts, general contractors, or architectures to see if this is possible with the structure of the property and how much this rehab would cost.

@Santos Ricardo Tellez It's still early to say what the economic impact will be.

I would recommend talking to an entity formation expert that specifically works with real estate investors with entities that are particular to investors, such as anonymous LLC's (several states depending on the investor/business might be good) or Series LLC or even DST structures. 

I have been warned by at least two people now that I could be sued since I would be considered an expert.

You choose one OR the other, not both, and the choice is something that needs professional help from real estate tax experts.