On the other hand, Option 2 with the BRRRR strategy entails owning a single property outright, building long-term equity, and potentially cashing out through renovations, but it's a slower ride, relying on successful renovations and favorable refinancing options, and you're starting with just one property, which may limit your income potential.

I'm just starting out with my first STR so I'm really relying on good reviews and guest experiences to get more exposure on the listing platforms!

His pension plus survivor benefits will net him around $80,000 a year but I'd like to not have to rely on him spending too much in his retirement for this beyond the downpayment if possible. 

As @John Nachtigall has provided ample evidence, a lot of syndication (GC included) rely more on marketing than quality.

You have to rely on rent growth and appreciation for the return.  

You should know your pricing and not rely on a tool to tell you - it can only give you averages, we have to understand our market and position correctly; I don't use Pricelabs recommended pricing (and I operate in the 95% percentile across my portfolio). 

While it may be tempting to rely solely on memory, I would try to jot down as much information as you can.

Our situation: My father is a cancer patient, and I am a permanently disabled adult in my 30’s that is in severe chronic pain after a workplace accident.

It is worth mentioning that my journey into real estate commenced without any formal education in the field; rather, I relied predominantly on extensive research and avidly consumed the invaluable insights shared through the Biggerpockets podcast.With each venture, my interest in real estate investment continues to grow, fostering a profound desire to acquire more properties.

Also, remember, I obviously know nothing about your property or area, so I could be wrong and please don't rely on what I say