On the Fannie Mae side, the shorter terms (15 yr.) have lower interest expense, therefore your taxable income is higher even though your cash flow will be less.

To his point, you can choose a different state with shorter times and a different legal process (judicial vs non).

A few weeks ago I offered to pay a landlord upfront for quite a few months rent because I was looking for a shorter term lease (My roommate is getting deployed to Afghanistan.)

(will need to find new tenants for both units soon)Contracting all repairsPros - Shorter duration, lower holding costs, more time dedicated to tenant screening and property management, begin developing relationships with contractorsCons - Higher labor cost, harder to develop specifications/standards, less money available for future investing.What are other folks doing out there starting out?

I like doing the due diligence that is required with tax liens, and putting some of my investment $ into shorter term liens.  

I wanted a 2 year lease/option contract at the time because I was not expecting the tenant to be able to perform in any period shorter than that and my goal was to actually offload the property, not just put them into impossible terms and keep the deposit.

To me it sounds like rentals shorter than 15 days have already been required to charge tax, where this now addresses longer than 15 days.There is a phone number at the bottom of the link to the tax notice that Account Closed provided.  

You have a legal right to 24 or 48 hour notice depending on your state/lease and if you do not give permission for shorter notice each time, your landlord can be in a lot of trouble.

Instead of needing to wait six months or a year at xx.99%, you can be in the that hard money loan for a shorter period of time.Best suggestion I have is to find a lender that offers both hard money loans and conventional financing.  

If the seller wants a shorter term you could exchange that for a lower interest rate.