Can't wait to see some of your posts years from now about all your adventures and success. 

I would be very interested to hear if anyone has success with option #1 as well.

I have been listening to the Bigger Pockets podcasts ad nauseum for several months now while I work for my father (when I'm not working with clients I keep the money flowing by doing so) and one of the main things that I have taken away from all of the guests is the majorities' response to the question of "what do you think separates successful investors from those who give up, fail, or never get started with investing?"

How many transactions have you closed, with investors?

Some states, like NC, regulate contract for deed transactions.

I met my loan officer through a referral, and have not personally had much success calling around as of yet. 

Your IRA can partner with your friend, but partnering personally with your IRA will likely result in a prohibited transaction. 

"Brokering" means you represented the buyer or seller on a transaction for some commission amount.

@Sandra StrongI agree with @Jaysen Medhurst and @Andrew SyriosThe numbers do not support a successful BRRRR deal.  

Congratulations, and I wish you nothing but success.