Big bonus if the investors grew up here, live or work here, etc, but I think the most important aspect is the desire to make conscientious and responsible choices in their investments, and a commitment to helping the neighborhood grow.

If all units are exactly the same configuration, same finishes, same rents, etc. then I'd wait a month or so and see which is the least desirable tenant.

Of course I don't live in Canada, so not certain about these numbers, but I'd think you could get the desired effect for less money.

As a farther DC burb, you are more likely to get the families, which naturally makes the three bedroom more desirable.

If you are wanting a newer look of painted walls, you can fill the seams and cracks with spackling and tape and bed or texture as desired then paint it and it will look like a normal sheetrock wall. 

I was having challenges getting the the amount of money I wanted to generate the return I desired doing traditional leases.Because of these new developments it appears there is a Healthy short-term rental market.

Having a desire to control your own professional destiny and be your own boss is a trait shared by top real estate professionals.

And I'm sure for LA, if you break it down to highly desireable locations like Santa Monica, Beverly Hills, etc., the appreciation stats there will outpace lesser areas.

I'm wondering, what books do you recommend to someone new that has nothing at the moment but a desire to learn as much as possible?

In addition, I would think devising a structure to meet grandma's estate needs along with recognizing desires and wants from the beneficiaries is probably the only way to get approval and not make it seem like you are trying to pivot yourself into a one sided deal.