Im not a fan of seller financing unless that property is free and clear and the seller is offering reasonable terms NOT on money they have borrowed. just too many people get into this type of thing without understanding the whole picture, like title being moved into the buyer's name, due on sale clauses... etc. etc. also, just because its a very commonly overlooked guideline which makes financing on 3's and 4's a little challenging: FHA requires the property to self-sustain its own PITIMI by the rents.

In terms of highest yield it totally depends on your investing thesis.

Weighing the long-term appreciation potential of California against the stronger cash flow of other states will help determine the best strategy for you.Good luck!

The attorneys I have worked with when buying a large apartment complex have all recommend one LLC for holding the property and one for managing it.  

Investment Info:Townhouse buy & hold investment in Baltimore.

I have 3 long term rentals, but this is my first time with commercial property. 

But my long term is rental mainly. 

Investment Info:Small multi-family (2-4 units) buy & hold investment.

Trying to keep things simple with long-term single family rentals til I hit my conventional limit then will try different strategies with different funding options.

They also have a home vacancy tax in a lot of areas which applies to short term rentals.