Depending on the strength of the market, I will charge 15 - 25% more for a month-to-month lease to mitigate the increased risk of departure under less-than-ideal circumstances.

triple tax exempt in most circumstances.

The first one is impossible in flipping, and the second one is really complicated and only works under specific circumstances.

I would also have an agreement among the “tenants in common” or as an LLC  so when the circumstances change, someone dies, or gets sick and wants to sell, divorce, etc you agree on how to handle the break up.- basically a prenuptial. 

You can normally only have 1 at a time, unless under certain circumstances you can have more than 1 if you relocate, etc. 

That being said there are many circumstances where one is needed.

I’m putting this property on a 15 year loan due to my situation and circumstance and how much money I make with good security if market turns some.

My experience is that the results are situational to the tenant circumstances more than anything else. 12 month leases are by far the most common in NC.

Due to a change of circumstance between closing and evicting a holdover I am currently living in a unit that was purchased as a rental. 

Grant Cardone has some good reasons for this, but his rationale isn’t right for every person’s particular circumstance.