We are looking to buy an established business with a system in place.

I assume if one wanted to 1031 for "rinse and repeat" you'd also be game for that as well. 

If willing to invest more effort for higher ROI, consider Option 3 (building your own team), though it requires time to establish reliable management.

I'm a very analytical person who won't start a new venture without first gaining a solid understanding, establishing the right framework and connections, and ensuring that I'm securing a great deal.

I'm always game to chat real estate.

Period.If he keeps playing games, I would a) walk away from the deal, and b) report him to the State RE Board.chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.ncleg.gov/EnactedLegislation/Statutes/PDF/BySect...

That’s a game-changer when it comes to flipping profits.Your scenario reminds me of a client I worked with in San Diego who flipped a condo after living there for a couple of years.

For that time frame it would not make sense to turn it into a STR as there won't be enough time to establish a history to attract good vacationers.

Establishing an in-house servicing operation is a natural complement to the company’s core business purchasing and repositioning past due residential loans.

You can only play games for so long.Chances are your next door neighbor is an IRS agent and turns you in when your tenants blocks their drive or some other random event disturbing your IRS neighbor.ADU catches fire and your insurance won't cover you, because it was an illegal and unpermitted structure.The city inspector told the last guy not to build or rent it, and is now pissed and wants to make an example of you and just red tags the whole property and no one can occupy for the next 1-2-3 years while you wait for a hearing.Then when you get the hearing, "staff" recommends you tear the whole structure down, and if you still want an ADU, you can apply for a permit and rebuild it.Your tenant quits paying rent and won't move out and you can't evict them, because there is no valid lease and they're just your "roommate".Probably a dozen other bad things can happen to you when you do stuff like this.