I've been managing for 15 years and have helped a couple owners change/expand their portfolio. 

Investors love to take advantage of this strategy to expand their RE portfolio and have better appreciation potential.

i have a small portfolio of LTRs in 3 states and the ones that cash flow have low interest rates.

I don't hold them in my portfolio but I do wholesale them to other investors since the discounts are deeper.  

Your nightly rate will be influenced by proximity to the beach, interior design and amenities (ex game options, fire pit, pool, etc).

Quote from @Chris Seveney: @Francisco AvancenaThere are specific lenders who will do land dealsBut of course not as many as traditional real estate.The key will be skin in the game - typically for land because it is less liquid than a home the lender will want to have a lower ltv on the deal I fund land flippers currently in  CO FLA WA ID MT NV AZ OR TX SC GA VA  one thing about land though LTV is lower and RATES are NOT the same as typical HML rates are higher for raw land but its a specialty niche and a business that I grew up in..

Is it wise to buy some units with high cash flow and low appreciation, and others with lower cash flow but high appreciation to diversify my portfolio?  

I have been investing in Columbus since 2017, and I have a diverse portfolio that includes residential, warehouse, retail, and office rentals.

Many sellers will not accept this since they are in second position, and it is very risky since if you default (higher probability for investors with no money and/or no skin in the game), they will most likely be wiped out during a foreclosure.

Now, I have a portfolio of Short Term Rentals and Long Term Rentals.I’ve also helped other investors with their DSCR loans and flip projects.