I would strongly recommend you have an exit strategy or multiple exit strategies in your partnership agreements.

Any tips, strategies, or insights would be greatly appreciated!

Owner/Occupants want function and style.Investors perhaps more numbers focused...probably want numbers to work day 1.Owner/Occupants....they'll stretch to make the numbers work....what can we cut to make our dream home work for us.Personally I don't think either thinks about exit strategies too much or maybe even not enough.I would say Owner/Occupants way way more focused on cosmetics and less about maintenance. 

BUT, and it's a very BIG but, that was literally a chain of things going not just "right" but awesomely better than "right". 

Neighborhoods near major employers like the AFB often provide reliable rental demand, which is a great foundation for a long-term hold strategy. 

I'm from Leesburg, and I can tell you—multi-family is a solid choice (piggybacking the previous comments which I agree 💯), especially with that live-in/rent-out, house hack strategy.

An HOA can easily restrict someone trying that strategy. 

Lease options, and there are a variety of types of lease options, can be a good starting strategy for many aspiring investors. 

The BRRRR method (Buy, Rehab, Rent, Refinance, Repeat) could also be a great strategy to recycle your capital.To find deals, try direct mail campaigns targeting absentee owners or distressed properties, or go driving for dollars in neighborhoods with strong rental potential.

Im literally closing a loan on Monday where my borrower had a similar situation - the borrower's ex-wife was awarded the property and assigned the debt in the divorce in 2020.