All strategies can be lucrative and all can be costly. 

I'd argue that there are very select zip codes where this strategy works.

Quote from @Lorenzo Lopez: Hello all,I am trying to do my first deal/buy my first MF property but I haven't been able to move the needle.I am focusing on Small MF (2-4 units), with a value-add strategy.

Of the many strategies I've looked into, House-hacking and short-term rentals piqued my interests. 

it will be a corporate/wellness retreat/short term rental destinationI need land that is close to the Action, but not too close, and preferably comes with two single family doors already built, so I can take advantage of Fannie Mae owner occupied loan and develop the rest of the land on my own and with private funding.Is Columbus a good market for this strategy?

Depending on your goals and how you are buying your properties you may notice that certain areas are difficult to cash flow in NH depending on your strategy and what type(s) of properties you are looking at. 

Tax-deferred strategies like 1031 exchanges and refinancing allow further tax-efficient wealth building.This post does not create a CPA-Client relationship.

So I'd be interested in seeing what I might be missing that could be a possible danger with the lease option model in particular.Also, I would be interested in hearing some other models and investment strategies that would be better deals for passive investors.

BPRE: is great when it’s problem solving and good when deep diving on a strategy.

Other strategies include gifting portions of the property to reduce the taxable estate or exploring more complex options like a Qualified Opportunity Fund or a Charitable Remainder Trust to defer or minimize taxes.