Thus, to avoid that rigamaro, the 6-mo lease option would carry us into next year, which would make us eligible to revert back to an SF contract on Walnut.

My personal answer for the time being is NO.So while I dont really like having the airplane in my personal name, for the time being that is where I am: Title the airplane in my personal name, carry adequate liability insurance on it, keep track of all business use, and give those direct costs to my accountant for taxes.By the way I found a nice Beechcraft Debonair.

@Marcus Brown, An owner carry note would spread out the tax. 

When refinancing to a cash out loan that mean you would have to roll in the first loan...so if you had a good rate, you will be forced to carry the new rate on the entire balance.  

But also an insurance agent told me the insurances are temporary and don't carry on to new projects.

Rehab loan is one loan, one closing, keep for a bit then refi.If the seller/family member would carry back the loan for short time, you do a seller carry/wrap/aitd mortgage, you fix it up and or rent out occupy for a year or two then sell or refi.

Do you have the cash to carry that property for several months while getting it rented up?

"When you lower the definition of success to such a level that any person can reach it, you don’t teach people to have big dreams; instead you inspirit mediocrity and nurture people’s inadequacies." ~ Shannon L.

The simplest way is to get the seller to carry a note, with your 10K down.

Because residents will own the homes, you will be moving homes, renovating homes, selling homes, carrying paper, so there are specific contractors you will need to find, and licensing and regulatory requirements that you will need to know.