Do you want to manage the STR or LTR yourself or are you open to other options like out of state investing? 

Inheriting it is the best option tax wise- because it gives you a step up in basis to the property's value on that date. 

In your case of a fourplex, option 2 should get you a better deal.I would also agree with Bill on how the number of units may not correlate with the value of the property unless it is a large multifamily complex, and sometimes a fourplex or several single family houses would give you better returns. 100% We always recommend conventional first until you can no longer qualify for those. 

Hi Ken, I'd say, it’s critical to remember that your financing strategy should align with market trends and buyer financing options.

Another option could be exploring creative financing like seller financing or partnering with others to leverage better terms.

Have you explored any of these options yet?

From my experience, cities like Greenville, Columbia, Augusta, Huntsville, Chattanooga, and Jacksonville offer strong house-hacking opportunities with growing job markets, solid rental demand, and affordable multi-family options.

Most of the population is relying on card or electronic payment options.

.: @Sadler Surratt - just curious, why did you ask Cosmo about looking into turnkey options in Huntsville? 

We’ve found a great option for us in Tennessee with a cabin (currently used as a str) and a mobile home.