Personally if you are looking to grow in real estate going the traditional method/way of getting good properties under agreement with traditional financing will get you to where you want to go faster than trying to find all the needles in a haystack.

I'm not a professional Tax person.

Under any scenario, any state, someone who sits on their rights and lets someone get into the weeds to the benefit of the person who sat on their rights, will NOT have those "rights" enforced by the courts.  

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Here are the details:Purchase Price: $300KDown payment if taking mortgage: 10%Available cash on hand: $40KEquity in Primary Residence: $700K - $1MSecond Home will need $10K initial investment to freshen up for personal and STR use.Assume equal rates for each product? 

It's been 2.5 years since I purchased my first property and now that everything in my personal life has slowed down I'm back on the horse and ready to find my next investment.

David, do you know any Hard money lenders that would allow a person to wrap their loan without doing a balloon? 

Quote from @Irina Badal: I heard for anonymity purpose it’s advisable to set up a personal residence trust.

I personally think it really depends on how much value will it add to the property and if the town will allow it. 

Do you think they're worth the investment, or do most buyers still prefer in-person showings?