Anyway, I would object to them assigning the option but not if they were trying to sell.

Yep, after you learn the principles of real estate, you know, the stuff that doesn't promise you'll make a million by Christmas, just the basics, like what real estate is, why it is unique, what rights of ownership there are, types of deeds, title, what title insurance is, how property is valued, what liens and encumbrances are, how to read a legal description, what bilateral and unilateral contracts are, what is necessary in a contract, what a leasehold interest is, how settlements are accomplished and the laws surrounding transactions. 

My long term objective for the property (currently my primary residence) is to live in it for another 12-18 months, then rent it out for 2.5 years (hopefully both sides separately) and then sell it.

I've heard people talking of "chasing the shiny objects ", and that's exactly how I feel.

There are numerous possible solutions, but they depend on many factors, especially what the goals and objectives are for each individual partner/member. 

I like it to much, too much to do, and too much opportunity to take advantage of.There are plenty of Active and Veteran military on here that can help you out, as there are some unique advantages we all have.

Understand their Objectives.

Interesting topic, and what a unique type of market given the logistics of an Island.

What I object to is turning over receipts for materials.

Also, there are other RE Associations here too that you can research and see which one resonates with you, and your objectives!