Seller financing is a good way to start if you are looking to sell to your current tenants, other than that, you will need to run into a proper plan why you will need that and how long will it take you?

It takes time but worth it.How do you plan to finance your first property—are you looking at traditional loans, or have you considered other options like house hacking?

You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

The main challenge was timing the listing perfectly, but with careful planning, we ensured a swift sale.

This could also hurt my debt ratios if I go to borrow on another investment somewhere like my plans for the STR.  

I recommend finding an accountant who specializes in planning.

Long term hold, with buyer planning on carrying existing financing to term without the ability to quickly cure default — terrible strategy with huge risk for both parties.   

She informed me that she & her sisters plan to take care of the rent so he still has the home when he gets out of the hospital. 

Congratulations to you for setting yourself a goal and having a plan in place to execute it. 

If you plan to invest in a syndication as a limited partner (LP), ensure the structure allows for direct ownership in real estate (e.g., through a Tenant-in-Common (TIC) agreement), as partnership interests are specifically excluded from 1031 exchanges under IRC 1031(a)(2)(D).