I would do option 2.

Quote from @Sylvia Castellanos: I have bought several properties from the Shelby County Land Bank, which come with a special warranty deed.

The big box stores have stair treads you can use to replace some or all of your treads.

Appreciate you sharing this too, that financing option sounds like a serious unlock for folks struggling with the down payment hurdle. 

LTRs offer stability, while STRs can produce higher returns, but come with more risk and management needs.STR Tax Advantage: If you materially participate (100+ hours and more than anyone else), you can qualify for the STR loophole, allowing bonus depreciation to offset W-2 income, without needing full REPS status.Use Cost Segregation: Ask your CPA about doing a cost seg study to accelerate depreciation, especially if 100% bonus depreciation returns in 2025.Backup Options: If managing real estate feels overwhelming, consider a Delaware Statutory Trust (DST) for a passive 1031 route, or an installment sale to spread the tax burden over time.Meet with your CPA and 1031 intermediary to ensure your reinvestment strategy is tax-optimized and aligns with your comfort level on risk and management.This post does not create a CPA-Client relationship.

Over my 30 years investing I have invested using a variety of lease options to control and/or buy properties. 

When the split happened, I bought her out of the property, without use of a lawyer, but both of us agree and understand that the money and ownership of the property is effectively 100% mine.

This process seems messy in terms of sorting the receipts by property and retail store.  

I have had good luck finding cool unique pieces in local stores to the property.

I hope you know, you could have bought an enormous amount of penalties, default interest, legal fees, and accounting fees from the first lien holder—not to mention a pending foreclosure.