To be successful in any business you have to let go of that fear and jump in with both feet.  

I intend to get a single family residence, add an ADU, live myself in the residence and rent out the ADU as a studio apartment long term.I have checked my city's ADU laws and long term renting is permitted.Question : can I obtain the REP status while maintaining the ADU while it is in my primary residence?

I also don't do anything less than 3yr lease terms. 

What is interesting is our held for sale are the longer term notes as we do not plan to hold them for 10+ years.

You might make it work if you can find a way to increase cash flow aside from the basic long term rental strategy. 

He intends to turn it into a short term rental. 

We’re focusing on Class B & C properties in select markets and working to get the right balance between operational efficiency and long-term growth.

-Seller Expectations: Ensure the seller knows and understands what to expect regarding terms and timeline-many sellers are unfamiliar with seller financing.

I'm considering making an offer on a property that is listed as a 2 bedroom 1.5 bath as a long term buy and hold property to add to my portfolio. 

@J Lee Have you successfully invested in real estate?