I think it would be great If I can essentially stay there for free if I visit often because I love to surf and also Rincon Puerto Rico is growing in tourist population.  

According to title 17, it looks like you are wanting to be in one of the following districts:  RT, Residential Two-Flat, Townhouse and Multi-Unit Districts.RM, Residential Multi-Unit Districts.These are further classified by lot area, and floor area ratio (floor area of the building divided by the total gross area of the zoning lot upon which the building is located).

Do these terms essentially mean the same thing?

This would essentially be unsolicited.Thanks!

It sounds like you are essentially taking on all of the cost and liability of running a contracting company, only hiring people without actual skills.Honestly you need that consult with an attorney ASAP.  

I am looking trying to structure the deal where the owner is essentially the lender.

However anyone owning a building near public transportation will be ahead of the game while the suburbs are going to dry up only bc im the only person I know who wants to own a nice big house with a yard and the red neck in me will build a bigger garage in the back but most of these young people who don't want to buy they all want to rent so they aren't tied down and can travel and than live down town with a short commute to work...Everyone has there own opinion but me I think that an out of the money call option on apple would be a better value than an 800k townhouse in some ex industrial area of Jersey or wherever it was because I already know the places with the good school districts and easy commute to nyc they were over built 10 years before I was even born so basically if you can afford it buy where you KNOW it is desirable AND If not it is a gamble at this point.

I just became aware of a situation where a family friend and her mother have offered to short sale their home with no regard to loss of their initial $20K down payment and damage on their credit due to the fact that they're up in age (one is over 100 years old) and they see no other recourse.How can I advise them of a different strategy to resist the temptation to give away what is essentially a really nice home that needs minimal TLC in the Oviedo FL area?

You are essentially providing some motivation for the borrower to sign the DIL docs and leave the property in a timely manner and in good condition and send/leave you the keys. 

The team can essentially act as a collective group of mentors.