I'm currently building out a couple versions of my own, since the internet is not producing very many good ones.

@Sean Dillon figure out how to buy a 2-4 unit with FHA loan.Then rent at least one of the units long-term for stable cashflow.Try STR in another unit as well as the other bedrooms in the unit you live in.You may even consider living in the basement, attic or worse unit in the building to rent everything else out and max cashflow. 

Passive income through real estate is one of the most powerful ways to build generational wealth.

I’ve had to widen my search radius to smaller suburbs or target properties needing light cosmetic work to make the numbers work.Value-add opportunities: Adding amenities tenants love, like finished basements or upgraded kitchens, seems to justify rent premiums in this market.Navigating the competition:Be creative with financing: Seller financing or partnering with other investors has been helpful to secure deals when conventional offers didn’t cut it.Work with local agents and wholesalers: They often have their finger on the pulse of off-market opportunities, which is critical in a hot market.For those new to suburban Chicago investing, I’d say the key is finding the “sweet spot” neighborhoods—ones on the rise but not yet maxed out in price.

@Ricky Sanchez One of the requirements of doing a 1031 exchange is that the tax-payer for the relinquished property has to be the same for your replacement property.

One of our company arms might be able to assist. 

I'm assuming you have one lease covering both tenants and not individual leases.

So I will approach it from that standpoint.STRs-  if we have a downturn that will be one of the first investments to go down.  

But of the options you note, the only one that really makes sense to me is the CoC option. 

I was on a ZBA meeting last week for one of our hotel projects.