I'm leaning towards long-term rentals (LTR) but am also eager to dive into fix-and-flip projects to generate quick capital.I'm deeply committed to achieving financial freedom through passive income, and I believe real estate is the perfect avenue to reach this goal.

This is an issue that's also always bothered me, so I'm eager to see how others handle it.

a local marketing guru who would frequently meet with us to discuss various business strategies to help grow our detail company heard about the offer. at the time he found out about it the current carwash owners had all but signed an LOI with an out of state private equity firm but were willing to sit down with us and hear our offer!

Can second home be operated by a management firm that has control over occupancy?

Just get a firm exit strategy in place (and a backup) for financing before you take action - most cashout refi products have seasoning requirements these days. 

I do have the benefit own owning a IT consulting/software development firm with resources I can leverage.   

For tax planning, I would recommend looking for a firm with EAs or CPAs who specialize in the asset class you are most interested in.

Same like AUM too or when realtor says their firm managed 5 billion transaction lol

But am eager to see if anyone is willing to share their format?

Personally, I am a HUGE fan and proponent  of Chicago Cashflow and  ANDREW HOLMES  MASTERY PROGRAM , because everyone I met there seemed genuine, honest ,  ambitious people always eager to help if you only ask for it.