The details are controlled by Section 483 of the Internal Revenue Code.https://www.law.cornell.edu/uscode/text/26/483Some bloggers, YouTubers, gurus etc. mistakenly refer to two other sections of the tax code, so let me address this confusion.Section 7872, also described in IRS Publication 550 as "below-market loans."

We just (re)developed similar technology for our Market Finder.

Should I just go back to getting the property rented out completely and then market it for sale?

The more I look into lease option, the more of a specific, niche market it appears to be, especially with the nuances of the legal ramifications if done incorrectly.

It's great that some ST rentals have a 6-month waitlist but that's the case in many markets and these listings are in the minority and most likely run by experienced short-term operators.

I primarily handle the marketing and rates, as marketing and hotel management are part of my background.  

Spend your spare time reading, listening to podcasts, analyzing property, studying the markets, etc.2.

Both seem to have strong real estate markets, but I'm not sure which one would be better for a beginner like me.Can anyone share their experiences or insights on these markets?

Normally, if the policy values the loss on Replacement Cost, they will initially pay the loss at the Depreciated value, once the damaged area is rebuilt, then they pay the additional amount (up to the limit on the policy).   

@Quynh TranI would look for community banks and credit unions in the market where you're investing.