But we parted ways and while it is a lot more work, I'm learning so much AND it's more satisfying to me- to have that control, end of day.I would consider working with the right PM company again in the future.

This person did not raise any money, they invested around $600,000 into the offering and because they were one of the larger investors were considered a Co-GP because it was a new sponsor and they needed this persons $.

If you offer more $ for the property than the all cash offers AND you appear to the seller to be highly qualified in the method you are using for sourcing the payment, at some point your offer will be more appealing than the all cash offers.I don't understand why you would consider a 1031 for another property in two years. 

that OR consider buying a property you could short-term rent to people who literally just want to visit the casino if it's a large/decent one. 

Set up an LLC in the property’s state for liability protection, and consider a parent LLC if needed.

If you go this route, consider hiring a trusted property manager local to the area who knows the market well.I have personally owned and managed a multifamily property in Illinois and after selling it I said I would never invest in that state again.

You are correct there certainly are ways for things to be done badly or illegally, but these are BAD MESSY situations before a sub-to deal would even be considered.

Consider cash-for-keys.

And yet here I am considering partners.

Or perhaps I am not considering other options, so I am seeking help from this wonderful community.