It can be usable for both if you were vacating the units and there was a 12 month lease agreement.

Also, I'd lease out the other bedrooms for additional income as well as practice screening, leasing, and interpersonal comms.  

Some portfolio or private lenders may waive this rule, so it’s worth exploring.While waiting for the 6 months, finalize renovations, stabilize the property with tenants, and ensure all paperwork (leases, receipts) is organized.

What's the deal with 'land lease'...should we steer clear? 

Sometimes they find a renter that will sign a lease for a high amount only for the renter to default leaving the owner eating the vacancy. 

Quote from @Kar Sun: My tenant's lease is coming to a close and I am relieved she will be moving soon.She has been paying on time but has been extremely unpleasant and rude.While the money does not smell my mental sanity is more important than money in this case.She sent me a registered letter stating that she feels "unsafe because we have not done the fixes the way she wanted it".She requests to have her witness for a walkthrough.In my state a walkthrough is required but I am not about to grant it to her to bring any witnesses as that is not in my contract.If she feels unsafe she does not have t be present.I also do not treat a final walkthrough with a tenant as a final sign off.This walkthrough does not include a detailed inspection of the plumbing and the appliances that will be done after she departs.This is simply for the visible cosmetic issues and should take less than 1 hr.  

What are the tenant's leases now and when are they up?

During the month of November, 4 units, pretty much all my problem tenants, picked up in the middle of their lease terms and vacated after failing to pay November rent.

Then finance our primary with 10% down and lease out the townhouse.  

But we also added lease options to our model which attracted a better tenant and lessened the the amount of work that it took to manage the lease option properties.So I would encourage you consider investing in your own back yard before going out of state, especially if you live in North Carolina.