Specifically if a given property has updated systems and is held for a shorter period, the Cap Ex budgeted would be lower than a long-term hold with dated plumbing, electrical and requiring a new roof.Better to over estimate and have plenty of reserves just in case instead of the alternative.

There is not enough time for a lender to get comfortable with paydown of the note typically unless a very small loan and a shorter amortization period.

If it cash flows, and you decide to self manage to make it cash flow more, that's great, but if it doesn't cash flow without you it's probably not a deal.Option 3: Same opinion as option 2.Option 4: I like this one, but refer to option 1 about doing plenty of research and not putting all eggs in 1 basket.Option 5: (You missed this one so I figured I'd throw it in for good measure) Real estate notes, probably not in the Bay Area (though possibly if you got lucky)  You can pick a market not so inflated that still looks solid for appreciation and population growth and fund a fix and flip buy or possibly a builder (both shorter term hopefully) or a fix and flip to owner finance guy like me for a longer term safer returns. 

The first being that the shorter the hold period the higher the IRR and the velocity of money is increased.The second is that the majority of a sponsors compensation comes after a capital event (sale/refi) when they get into the "promote" or carried interest. 

Seller financing is usually on much shorter notes with a balloon first off.

I believe most (I do not really know the stats, but fixed rate is an common option) refinances are fixed rate.We use HELOC for shorter debt such as to purchase a property that we plan to value add and refinance in the near future. 

they are typically shorter term, potentially very short term, like 5 years, but they might be amortized over a longer term like 20 years. 

To my knowledge, no HOA's in the city of Henderson allow rentals shorter than 30 days, in fact, many don't allow rentals shorter than 6 months.What if an HOA or CC&Rs prohibit short-term vacation rentals?

4 units and under can typically get long term debt. 5 to 8 units looking at small commercial banks with shorter term loans.The small units take up a lot of time to operate and work for the projected yield.How much is your time worth is the question?

The first one being closer will also mean a shorter walk to the beach, which will be preferable to renters.