The goal is to build a portfolio along the way. 1.

Please double check this and make sure that wasn’t the amount for the raw land prior to the build.

The biggest question I would ask is how well they know the area such as neighborhoods and do they have connections to building a CORE 4 such as great contractors, property managers, attorneys, etc

You should reach out to @Melissa Haworth she can get the actual numbers/rents on STRs in the area to help run your comps.Each building is different, each area is different, it is important to find accurate data to make good decisions.

Usually the numbers don't work to build in these neighborhoods, unless government tax credits, etc.Do you see the problem with your two statements:"The turnover costs could/will be high"and"How much more damage could they do?"

That can get you some money up front to continue to build your portfolio and it takes you out of being a landloard and puts you into the position of being the bank instead. 

Hopefully you have a better streamlined build on the next one.

Maybe they’ll build a wall around DC so that he can better control his new Kingdom!  

Let's connect.This is a new one so still building, but I've had meetups and they are really good to learn and network.

FL seems to have reigned in HOAs recently, so who knows what they are allowed to do.I know that in CA, an HOA can ban smoking in units because smoking is not a protected class and the HOA has an interest in the safety & health of the building.