Hi David, If building long-term equity and scaling quickly are priorities, then option 2 aligns better for you. 

Here is a video that runs down the basics - https://s-media.nyc.gov/agencies/specialenforcement/01-Legal...There is also a prohibited building list - https://www.nyc.gov/site/specialenforcement/registration-law...Here are some more info overall - https://www.nyc.gov/site/specialenforcement/registration-law..All of this makes STRs in the city pretty tough but it certainly not impossible.

Build sleeping pods that are mostly soundproof (double walled construction) and ventilated. 

You can also find commercial brokers that are in that space and build the relationship.

He was very successful and wealthy before he started making videos and created a course.Does his course teach you to build a successful business or work hard at a W-2, earn a boatload of money, and then learn for free through a mentor like he did?

Glad you're building your business while still active duty, that's a powerful move! 

They’re ideal for those building portfolios, as they don’t require extensive personal financial documentation.A key tip is to ensure the property’s cash flow comfortably exceeds the lender’s DSCR requirement (typically 1.25x or higher).

Depreciate 75% of the building value (excluding land) over 27.5 years for significant tax savings.

Developers will not be able to get these bonus building permits without providing such TDR credits.  

With a lease many times over time landlords are not formal and communication is oral, txt, email, etc.