In some cases, federal tax credits like those for low-income housing or economic development might also apply if the project aligns with certain goals.Instead of buying the land outright, developers often lease it from the tribe, which can reduce upfront costs and sometimes come with favorable lease terms.

I am interested in buying a long-term turnkey property in a nice area (I live in San Diego so this property would have to be out of state).

As a starting point: -If they work full time and make $700k a year -Don't want to or can't spend time self managing a short-term rental -Don't have a spouse who wants to take the lead on managing the rentals They are likely not going to directly reduce their taxable income with real estate year-to-year. 

I'd make sure it would do well with long term in case you get sick of mid term and want to convert it to long term.    

Depending on your current rate or if the current loan is short term or long term.

There is a single family home that was divided and one half has been rented and an ad on small "house" that has also been rented mostly long term.

Their behavior definitely got worse during this current, second lease term.

Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health) and choose the one that is most “stable” with the best potential for long term tenancy.This advice is contrary to maximization of rental income, but IMO will reduce expenses of tenant turnover, property damage, property management fees so much that the difference in bottom line income will be quite small.  

Selling now prioritizes liquidity and growth opportunities, while holding benefits from long-term appreciation and rental income.This post does not create a CPA-Client relationship.

Try not to get locked in too long 4. we're not necessarily looking to go "all out" in terms of theming, but if we did, what kind of revenue does that bring/ROI can you expect, and which Renos for theming are best to do from a cost-benefit analysis, and what do they typically cost?