"Extended stay" hotels came into existence to serve this market need.When I first arrived to Pensacola, I stayed at a 2-star motel for $X a night and reserved the room one or two nights at a time (my apartment move-in date kept getting rescheduled as its upgrade schedule kept slipping).

I have ordered "The Book on Rental Property Investing" and am waiting for it to arrive.

People constantly arriving and leaving all hours of the day.  

I want to educate myself deeply over next 6 months so I am ready to invest wisely when the downturn arrives.

How do I arrive at my MAO if I have the ARV but do not know how much rehab is?

Here in CA, probate petitions are titled "Notice of Petition to Administer Estate" in the local adjudication paper..

They do come around so be ready to act when one arrives.

Josh, So if I recently sent a PM to someone, and that person wasn't a colleague, the PM never arrived?

So, I'm unsure you are arriving at the $1.1M valuation (if it is just asset valuation; as it doesn't seem like it is cash flow based).I'm not sure how much exact debt you are looking for (if you are refi'ing the partner buyout and want $320k, for the straight cash, or $570k, refi and construction, on top of it), but as most conventional lenders will want at least 1.2 DSCR, the amount you are looking for could be a stretch (as far as DSCR and begin able to service it) based upon current NOI. 

How did you arrive at an income of $2,800/month?