Without knowing your rehab and down payment costs I can’t give an honest assessment to your current situation.

Recently found these guys honestdoor.com which have assessment, building permit, transaction data which is a good start.

I've also started the process of becoming a certified home inspector to gain a better overall understanding of assessing potential investments.I am currently in the learning phase of real estate investing.

The earlier you can meet and let potential investors get to know you, the better.You'll also need time to screen and assess your potential investors, just like they will need time to assess you.

Most companies will give you an assessment and quote for free, so there is nothing to lose.

Will the building be re-assessed for tax purposes at sale? 

With a tax assessment of $40,700. 

A couple things I'll add:It looks like the property tax rate here is 1.38%, based on the 2019 total assessed value of $396,705 divided by the 2019 taxes of $5,489That's seems kinda high, but it is what it is.

Here are a few quick pros/cons to owning townhome/condo STRs from personal experience: Pros: Complex ammenities (pools, spas, etc.)Exterior Maintenance is covered by HOA (this is really helpful in more extreme climates)Cost to acquire can be significantly lower then SFH in the same areaCons: HOA fees can be cash flow killers and assessments can pop up at anytime.

I would steer clear of the opportunity if you're looking for simple, quick money and you haven't navigated the process of rezoning before.As @Steve Morris said, demand is the huge factor and it will be difficult to assess demand on abutting res zoned land.That said, if you feel comfortable with the risk and have the capability, of course have fun!