On the addendum it stated that I would get financing within 21 days of executed contract

Execute your defined business plan as best as possible.6.

Your logic is interesting and I can see why it makes sense to you, but execution and reality will be a problem, financially and personally for you. 

Between HML and PM who will give you the lowest down payment, highest (and easiest) rehab terms, better rate, lower fees (watch out for draw fees and inspection fees), and longer timeline to execute. 

.- I usually look for properties that have value add potential, but also competing with flippers who have a paid staff that need projects to keep busy with and are ok taking lower profit margins as they need to continue to have revenue as well as contractors buying doing rehab themselves do you also look at some more turn key properties that you would not get initial value from, but that is meeting your other requirements such as a 1% rent to value position, good neighborhood with appreciation upside, and again adding an asset is going to appreciate and cash flow for you.- As a newer investor that is not at the level yet where many deals are being brought to them, but is eager to continue to build their portfolio with long term rentals what would you recommend their strategy be?

So Airbnb would be an avenue to use as executive rental source.  

The Closing Date on the property should be tied to a point in time that has the property and project you envision fully entitled in a manner that will allow for the development and operation of the project AND when you have secured 100% of the debt and equity capital needed to develop your project.Your 3rd priority should be using the time provided in the purchase contract (from mutual execution of the contract to closing) to conduct all of the due diligence activities cited in the critical path and any others you may encounter during the DD process.After Closing, your 4th priority should be to develop the horizontal improvements (roads & utilities) to produce finished lots and to then sell the lots to 3rd parties and use those funds to cover all or part of the cost to build "your dream project".If you are interested in taking on Priority 1 (critical path and budget) DM me and I will send you an Xcel worksheet that can get you started.

In addition to the HOA for the community as a whole, there is an onsite management company with a leasing office and staff onsite.

Keep reading, keep learning, start making more money and saving so once you find the plan that works for you, you can execute.

I expect to also be contributing cash to the project outside of the exchange.I would welcome any guidance from anyone in the community that has experience executing a similar scenario in the Western Washington area.Thanks in advance to the community.