We also have clients that are starting their investment journey with LTR, with eventual plans of furnishing it to MTR and get that 1.5-2x the LTR rent.   

I'd generally just do an amenndment to void the current lease when the tenant moves out and have a fresh one started with the new tenant.However it is also totally ok for you to keep the previous lease in place and have the current tenant remain the main tenant and the new one can "sublease" from the old tenant. 

Could you recommend where I can start looking?

There's a reason that people try to buy properties off-market and that is because you can find sellers who care more about terms than maximizing returns.So start with a conversation: you already presumably have some rapport since it's your landlord and you've spoken before.

Looking to get started.

I'm looking to make smart decisions for 2025, and this seems like a great place to start.

My budget is up to $70k and I will need help from family to start.

Bad rain drainage issues which i resolved by building French/trench drain on side and back by spending 10k2.

I think we will see more "adult" families living together...kids move back in or parents move in with kids.The traditional apartment model was based on 12month leases, but jobs are not always 12 months and people want flexible terms, so co-living often offers that.Seems like younger people between 20-30 and some other age groups don't want to get married and start that housing pathway our parents and grandparents took.   

For Section 8 opportunities in Tulsa, start by researching areas with high rental demand and good rental yields.