Should we keep the rent separate or include a discount in rent as part of compensation?

Depends on interest rate?

I also cannot imagine companies with hundreds of units getting better than 4.9 out of a 5 star rating. 

When a great deal comes up, and everybody else is looking at comps, evaluating cap rates, checking leases, this guy is researching arcane chain of title links trying to find an overlooked heir from 1934, or a long abandoned mineral lease.

Most likely best interest rate.

We have little knowledge about the area and hope to get some advise from your local pros/investors regarding the cap rate, vacancy rate and NOI for such property in a C to C+ neighborhood. 

And the good news is they go away in the future against higher taxes and tax rates.

If you are a new investor the interest rates will be in 13s and its only interest only payment, but once you start gaining experience then the hard money lender will give you better terms assuming your previous projects were good projects.

What is market rate rent for this property?

Specifically, knowing what size of property you can afford, then narrow down on Airbnb/VRBO to the similar properties and see what the properties with the highest nightly rate or the highest review/ratings look like and what amenities they offer.