The first thing I want to point out is that it may be wise, in your thinking, to separate the property itself from the STR business that's being run from the property.In the old days (as recent as 10 years ago), people buy a vacation home to enjoy, and they leave it empty when not in use. 

Let them know how much you enjoy living in the home and mention that you’re planning to buy your own property in 2025.

I am responding as a consumer not a STR owner we had one its lasted for us for exactly one tenant then we felt it was too much work for the return  on investment we do much better loaning money and buidling new homes than to worry about people goofing up our homes :)I do have some MTR you know fully furnished homes in Vegas and those are money makers for us top of the line tneants paying double the going rate for rent.

As a SFR investor for over 15 years I have been wrestling with this question in the past, because it feels like you should upgrade to "bigger".I know for sure that I would not enjoy the ownership experience that comes with a small 4F, because in Milwaukee that typically also means lower income tenants. 

They do not need the money they just need to park it somewhere without worrying about it and enjoy life.I have to talk to clients over the phone to flesh out the nuanced details to get more clear on what they client wants.   

Condos don't appreciate at the same rate as single family homes, and you are always a newly elected board away from STRs getting banned in your building. 

Moreover, many municipalities are adopting new middle housing codes, so if you pick up properties at affordable rates that have big lots, then after a few years of appreciation you'd be in a good position to redevelop them.Hope you're well, stay in touch!  

But even then, seller financing is rarely substantially better than another investment they could make (including trust deed lending, which will often be at a higher rate than seller financing)In my experience, the owners who find owner financing advantageous are at the ends of their careers and are not interested in looking for another investment (other than the usual retirement funding sorts.)

Do the calculations factor in default rates?

I enjoy woodworking and epoxy projects.