.#2 can be a bad option in the middle of winter when renters are harder to find.

Yes, getting sued is a risk factor and I've been involved with frivolous lawsuits which are not fun, but in my opinion you'd be in a much better spot owning a property in your personal name that let's you keep an extra 10-20% of the purchase price in your pocket as emergency funds, as opposed to buying the loan under an LLC that requires every last penny you might have to make the higher down payment, then you have to operate on a shoestring.

@Eric McginnHalf the "fun" of seller financing is there are no rules... it really comes down to how well you can negotiate and how much the seller is willing to work with you. 

I also used to live in CO and love winter park so wondering how that went as well??

My dad once said if it isn't dangerous it wouldn't be fun. 

Quote from @Marc Winter: After many dozens of flooring replacement jobs, I'd recommend LVP (vinyl) for most installations. 

Soon enough they will see your success and want to emulate your actions.2.You will have to sacrifice a lot of your fun time.

You don't want a failure in the middle of winter.

Quote from @Jonathan Bock: Most landlords are reckless and they would do some probing for fun and to save $. 

That was a lot of fun, but if you’re looking for a place that suits you right away or planning to buy a home, having a bit of guidance can go a long way.