You listed two but in broader terms financing (assumable, owner financed, sub to, fha, new 95% OO LTV that in most ways is superior to FHA, dscr, F/f conventional, NACA, VA, etc), value adds (development including ADU, upzoning, traditional rehab, sophisticated value adds that leverage localized rules, coop/tic, etc),  property types (residential, commercial residential, land, storage, MHP, industrial, office, camping, hotel/motel, etc), passive/active investment methods (GP, LP, REIT, nnn, self managed, pm, flipping, mineral right, lumber rights, etc), residential rent models (LTR, STR, MTR, rent by room, student housing, arbitrage, etc).  

How do these terms compare to traditional loan options?

That consists of buying a single family home with some form of separate living space to rent out as a STR and help offset living expenses.The DownsideLenders Calculate STR/MTR Rental Income Differently- From a lender's perspective, any rental income received on a term less than 12 months is NOT calculated the same way a traditional long term rental is.

Use a Promissory Note and Mortgage or Deed of TrustIf you’re familiar with traditional mortgages, this model will sound familiar.

Traditional financing - 15 year note at 4.5% How did you add value to the deal?

With your excellent credit and a solid down payment, they may be open to adjusting their rate, especially if they know you’re shopping around.Explore Non-Traditional Lenders: Some private or hard money lenders could offer lower rates for DSCR loans, particularly if the property cash flows well.

I do have a question about being a first-time investor, would it be better to go in as a traditional buyer, live on property while fixing?

To make the most of this opportunity, I'd love to hear advice on promising emerging cities to focus on, the advantages and disadvantages of each, and alternative financing methods beyond traditional mortgages

Sellers believe that by providing flexibility, they can attract buyers who might not qualify for traditional loans and, in turn, command a better price for the property.This perceived advantage can sometimes lead sellers to agree to terms that heavily favor the buyer, such as zero-interest loans or accepting second-position liens.

Looking at traditional financing for a 30-year.