So you couldn't later 1031 into it.If they simply leased you the property with an option to purchase would be fine.  

I am open to exploring lending options from reputable institutions or negotiating favorable terms with the owner, including the possibility of owner financing.In terms of financial readiness, my wife and I, both employed off the farm, collectively earn approximately $100,000 annually.

I see two options here:1.

The market here is still high and I could sell with a great return, but the rent that we can get is very high so not sure selling is the smart option. 

Hi Everyone,   We are three buddies starting out the investment together and have an LLC registered.Now that we have identified the property to buy ,we reached out to AXOS and were given the option to take conventional and transfer the title after closing / take an LLC loan at a higher interest rate (1.5% more)     Should we go the conventional route and then transfer the title after closing ?

You send them options to renew their lease for one year, six months or month to month with each shorter term getting more expensive and month to month being full market.

Our agent found the property and brought it to our attention about the seller financing option How did you finance this deal?

There are three options that may occur but we know the third has the same odds as a metor hitting the earth.1.

Maybe take a breather, reassess your goals, and explore other investment options that align better with your risk tolerance and financial objectives.

I also regularly come across off market sellers and my team member owns a STR management company, so I direct all STR underwriting to them as they are the experts on performing/non performing properties for STR strategies and then identifying options.