Maybe they bring the experience and provide the funds.I don't like any of your options based on I think you are too new to investing in real estate to take on any of those.

But it also is a money pit if you don’t have the experience.  

Your decades of experience have made you jaded. 

@Nick HenryIt sounds like you want to gain experience to scale a portfolio over the 1-12k per year cash flow.

Any advice or insights from your recent experiences would be greatly appreciated!

Experience and opinions are appreciated. 

Your first investment will be a huge learning experience.

Can someone share your experience or point me to the right place?

I have some experience here, and my answer will be it depends. 

Quote from @John Underwood: Gas heat would require constant tank refilling and it would be very bad to run out in the winter.In my experience, if you have  325 or 500 g tank, you can top off in the fall and be good until spring.....Unless I guess you have a big house and are keeping it at 80d....