Second, get an idea of what you want (size and arrangements of units) i.e. 2/1, 1000ft2 units or 3/2, 1500ft2 units. 

An STR/MTR unit would potentially increase the value of the area as these are well taken care of to the point where they look immaculate and exceed the HOA requirements.However, the HOA is also concerned with the living arrangements and control and not just the financial benefits. - A tenant from a red eye flight through the area w/ headlights beaming looking for the place.- A ride comes up honking their horn telling the tenant to "come on". - Strangers sitting outside...starring.- Tenant making a lot of noise.

I would also say it's not too complicated to arrange if that's what you really want to do.

Another option is to arrange a weekend of showings and go there for them yourself.

You have to define the splits of profits, losses, and capital for each member at the beginning and end of the year.I'd recommend discussion your entity arrangements with both your attorney (for the assets protection aspects) and your CPA (for the tax and accounting aspects.)

I'm still in college and I lease an apartment in downtown CLE right on my school's campus so I have to stay in my particular living arrangement until at least May.

Taking that a step further, not only do you need to disclose the address and arrange access for the buyer prior to signing anything, but you also need to share your contract with the seller to the buyer.

When my wife returned home she recounted the experience and I called my contractor and asked him if he would be comfortable having someone else complete the upcoming window installation we were planning in the tenants unit and he said he would arrange something with another trusted person.

MTM arrangements are usually more expensive than LTR.Great example of mine: Tenant was paying $900 on a MTM lease when I purchased.

They are investors, and we call this arrangement "Subletting".