I often see these prices at 11-12% yields and, as long as the borrower keeps paying you don't have any times where you are not invested.You could buy shorter term Notes or just buy the front end payments on someone else  existing note, you have a lower LTV in this scenario and it is easier to create a laddered portfolio with something coming due on a regular basis so if the investing environment changes you have things coming due that can be invested to take advantage of the changing environment - expect around an 7-8% yield in this scenario.

If so, why would a seller agree to give up being exempt from paying the capital gains tax by not selling with a shorter term?

I think I may be able to appeal to him with a shorter term and a lower interest rate, or a lower price and slightly higher interest.

If you find any other means of borrowing in a shorter period of time, I'm all ears.

Debt to Income - DTI - is only use on FHA, conventional, Va and other typical residential transactions (consumer front).If you're going to a portfolio lender they look at lending from a 1.25x DSCR point of view (industry standard) which in essence is a 80% Debt to Income if you think about it.1 dollar of debt / 1.25 dollars of net operating income (NOI) = 1.25 X DSCR = 80% DTI Never the less us bankers joke about it all the time because it might be crazy from a residential loan officers point of view but in the banks eyes its not from a commercial point of view.The commercial bank views income property as a consistent sustainable source of reocurring income especially in stronger rental markets so having 1.25 dollars of net income coming in for every dollar of out going debt service payment is acceptable.The mess with this 1.25x they will sometimes make you conform even while subjecting you to underwriting at higher rates, shorter amortization periods, and other income adjustments that make it harder to obtain 1.25x.

What about having the seller finance the transaction on a shorter term note while you fund the repairs and then refi out?

You can find a portfolio lender but most either use shorter terms, 15 years is typical around here, or have ARMs or balloons.You can transfer ownership after you finance.

If you apply an effort to learn the things critical to your preferred method of investing, you will know as much as you need to get started in a MUCH shorter amount of time.

Obviously you are looking to make a profit however is that long term or more of a shorter assignment plan or both.From your use of the word "park" above it sounds like most of the homes you are looking at are inside a mobile home park.

They would be willing to pay $1600 per month, for the shorter term + $500 pet deposit.