I just purchased two rental properties in OH last year.

I think @Jeff S. nailed it.If you were determined to buy this I'd give some thought to a small office cluster for therapists/ practioners like counselors, massage therapists etc.

I am interested in purchasing a seasonal short term rental as a replacement ($500,000). 

Once you buy that first property you need no one but yourself and determination if it means you miss 3 hours or 4 hours of sleep to analyse the market do it .

Yes, we have been doing lease/purchase and lease-options deals for over two decades.The rent+own strategy is particularly relevant when prospective buyers are having a hard time qualifying for a mortgage, either because mortgage rates are high or because prices are rising.Kinda sounds like both are happening right now, doesn't it? 

Purchase price: $300,000 Cash invested: $70,000 Sale price: $450,000 BRRR method using an STR property that has projections in the 75k gross rangeUPDATE -- did rent well.

You will borrow money (your equity) in order to qualify to borrow money to purchase, which means you are 100% leveraged.

Purchase price: $130,000 Cash invested: $20,000 Didn't expect my 2 bedroom rental to rent for what it did.

This amounts to the second negotiation in any property purchase: Negotiating the Resolution of Unacceptable Conditions.

In a light cosmetic flip, what are the advantages of purchasing builders risk insurance over using a traditional homeowners insurance policy?