Overall, there are a ton of really helpful suggestions in the replies here so I think you should definetley weigh some options in terms of if your goal is to keep the tenants or have the units be up to market rent. 

I am particularly interested in areas which I can either start earning right away as short term or long term rentals - Miami area or Bay area sounds like a good option for me.

Looking for long term financing options.

You would need to consult with a (local) lender to see what is available to you for that property, but I am assuming 20-30%.You would likely have 2 options with that property - 3 2 bedroom unit listings, or 1 6 bedroom listing. 

Obviously things like house hacking aren’t even an option because we have a nice SFH with a family.

You may want to consider promo rates on an equity line as well and if they offer you the option to convert any part of the equity line into a fixed loan.

Open to any and all options and appreciate the advice/input from qualified, experienced, investors and professionals.Thanks in advance!

That leaves me to think the primary option available would be to look at a LTR instead.  

I’m thinking of offering an option to buy in the lease maybe after three or five years with no money down and the sale price would be the low end of the Zillow estimate. 

Vinny - I would say that if you're next deal will be a BRRRR you have a couple options for finding the funding, including: 1) Taking a HELOC on your primary house assuming that when you refinance you'll payoff the HELOC, 2) You can also use a loan from someone else like a private lender (friends/family) in which you pay them 10-12% for the use of their funds, OR, 3) You can use a hard money lender in which the rates are a bit higher and there will be some points added as well.