Consider creating a spreadsheet with all items, their associated cost, and their expected life span. 

We know unexpected stuff will come up like street improvements, grading, Misc. items the inspector will request during construction that normally wouldn't come up with R-1 type jobs. 

With that being said, we like several regions in the south- offering diverse employment bases, growing populations, and relatively low entry costs.

He is an actual fiduciary however I didn't think to ask him about the tax and cash flow items.

You are able to add different contingencies into the agreement for items that need to be taken care of prior to sale.

Taxes should not be a problem if you run all of the numbers and itemize on tax return. 

There is good potential for value-add opportunities in a metro market with a diverse employer base.

Many prospective clients are looking online for keywords such as "real estate agent near me" or some other real estate resources and items in their vicinity.

A few other items to possibly consider is HOA/POA and if there are any special STR rules or procedures.  

Just off the top, I'm thinking ownership percentages, how the company decisions are to be made, what are the members specific rules or duties, tax provisions, and compensation are just a few of the items you'll be encouraged to have in the OA.