But I would remain open to long-term rental as an option as this seems like a more stable option in terms of income, again this may be my inexperience talking.However, I have always  been somewhat risk averse and investing in real estate is always a big venture, in my opinion/experience, in terms of capital.

Willing to exhaust all options as this is a big fish. 

If you can buy with 20 percent an hour away, as you said, that seems like the best option if the finances and numbers work for you.

Yes, use of single office space did die off with COVID, but because there was not an option. 

I find this option best if you are on a tight time frame and need to save a couple of weeks.  

So all of the gain and depreciation recapture are initially still tax deferred.However, like Joe said, the down side is later when sold  you lose the 1031 option. the client will pay tax on all gain and depreciation recaptured from before the 1031 also. 

Shared housing provides affordable, flexible rental options for young professionals, remote workers, and students.As shown above, co-living properties have more demand than traditional two-bedroom units and appeal to a wider tenant base.2.

The first thing I ask is why am I Buying the property.I always look at the exit strategy first, is it going to be a rental, a lease option sell, am I planning on living in it.

Personally, I wouldn't offer SubTo or a Wrap, For reasons I've written about fairly extensively. https://www.biggerpockets.com/forums/70/topics/1227199-the-m...However, I would sell on "Lease Option" and that may work for you.

If you need an option that isn't as document heavy, a DSCR cash-out might be a viable option if it's an investment property.