Persistent late payments, credit accounts in collections, etc are what shows me they are not suitable applicants.

Seen this pop up on several “top 10 trends going out of style in 2022” type articles.

@Alan Wolkov,I like your style.

Regardless of the current condition there is ample opportunity to stand out from existing rental competition with attractive styling, design, decor and pro active management. - Profitability & Consistency: Last but not least..prime Oregon Coast STR vacation rentals generally do very well financially.

Rather than deplete the tax-sheltered IRA, you could continue to grow it and only distribute to yourself the minimum amount required, or perhaps a bit more here and there as suitable.

My husband and I would like to propose some creative financing options...potentially offering a lease-to-own style option?

This means that it's in a location that is known to be suitable for short term rentals and is allowed by the HOA.

I'm better off buying more of a P.O.S. and hiring professionals to rehab it for me in a BRRRR style

The HOA/by laws will be your first insight into how restrictive these resort style communities are to keep up with the feel and look of the community. 

Beyond a local CU or bank the next best way to find a suitable location is probably a referral from your RE broker or listing broker.