You should NOT be thinking more doors is better over how it impacts you.

You'd free up so much money to invest with, and create an amazing flow of cash to immediately impact your situation.

One thing to consider is today's historically low interest rates which will have a big impact on your long term cash flow.

I'm sure it might make potential party planners think twice and hopefully does have a positive impact. 

They will also help ensure you can build the project on budget, which is why we like to get involved during the design phase if possible to work hand in hand with the architect to make adjustments as needed before finalizing construction drawings.In this case since you already have plans... sending them out to bid with 2-3 contractors should turn up fairly comparable quotes, so pay attention to how they each handle processes, what systems are in place etc... that will heavily impact timeline and adherence to budget. 

One of the assumptions you make when underwriting is your exit cap rate, and those will impact your projected results.

@Heather Cooper  We also have some other units in Ben Lomond (non-section 8) that were evacuated on 19 September - we will be voluntarily offering some sort of financial assistance to these tenants in order to try and lessen the financial and emotional impact of being evacuated.

And if you have optimism about the future of a certain location, then buy the property - knowing it makes sense today - hopeful that your analysis of the local market’s future is accurate - having the humility to understand there are hundreds of factors outside your control that will impact future performance.One final point, I have found that if one is prudent at purchase, properly leveraged, with cash reserves, over the long term say 10 years, real estate will prove a good investment.

While I am trying to keep emotions out of this as much as possible, I also do not want this approach to potentially negatively impact the relationship between my wife and her agent friend.Any advice or best practices appreciated. 

It depends upon how the pandemic has impacted short term rentals in your area.