I know conventional lending could become an issue depending on the condition of the property.

Willing to exhaust all options as this is a big fish. 

But I would remain open to long-term rental as an option as this seems like a more stable option in terms of income, again this may be my inexperience talking.However, I have always  been somewhat risk averse and investing in real estate is always a big venture, in my opinion/experience, in terms of capital.

From time to time, I will see brokers list in the private remarks - "The property can't close until X date unless the buyer wants to pay for early issue title insurance. " This may be an option for you but TIME IS MONEY and why lose potential buyers or offers by creating roadblocks to your flip project.

Since you're putting 15%-20% down, a conventional investment loan will likely be your best option.

That's awesome yall are assisting with lending!

Shared housing provides affordable, flexible rental options for young professionals, remote workers, and students.As shown above, co-living properties have more demand than traditional two-bedroom units and appeal to a wider tenant base.2.

The first thing I ask is why am I Buying the property.I always look at the exit strategy first, is it going to be a rental, a lease option sell, am I planning on living in it.

So all of the gain and depreciation recapture are initially still tax deferred.However, like Joe said, the down side is later when sold  you lose the 1031 option. the client will pay tax on all gain and depreciation recaptured from before the 1031 also. 

Personally, I wouldn't offer SubTo or a Wrap, For reasons I've written about fairly extensively. https://www.biggerpockets.com/forums/70/topics/1227199-the-m...However, I would sell on "Lease Option" and that may work for you.