Thats another key factor to be able to pull out your initial capital and the next homes DP in a shorter period of time. 

There is low vacancy rates, guaranteed rent, and they stay for a longer period.

I ran the numbers for any investment below 250k and for the 3 year hold period after 1% annual management fee and 1.25% startup fee, and the profit split, comes to 10% compounded return or an 11.2% avg annual return on a 1.33 EQM on 3 years.

Don't forget RE isn't a 3 year hold...10 years (less with other benefits from above included) is not a long period of time with a physical asset.

DEAL BREAKDOWNEMD: $50,000Sub-To (with a 3-year balloon): Mortgage takeover is $5,900/month.Purchase Price: Agreed upon variable price for 3 year period.

If you anticipate challenges, it might be strategic to wait until closer to the 90-day notice period required by law.

Anyone have insight on these being better markets for traditional long term rentals vs. 30 day minimum extended stays / MTRs?

@Robin CastilloLLCs are useful for legal protection, but they require separate tax filing, typically cost several hundred dollars to create, and most non-commercial lenders will not lend to LLCs.Commercial lenders will lend to LLCs, but their interest rates are significantly higher and they require collateral that regular lenders don't.I would not create a LLC specifically due to the issues in getting a traditional mortgage it will likely cause.One potential route though, is to get a traditional mortgage in your name and then assume the loan after a 6mo "seasoning" period with your LLC.

I had to extend the loan once and completed the entire thing in just under 2 years while working full time.

Former Lifestyles trainer Steve Davis has started this and has some Dallas trainings and meetings periodically.