I have a mix of long term rentals and STRs and rent some of my STSs mid term in the off season so I am happy to share my thoughts and experiences with each strategy in this area.  

They’re requesting what feels like an unreasonable amount of information, and the demands keep escalating.So far, they’ve asked for:A video tour of my home officeCredit checks on me and my partnerCopies of the deeds for every property we ownA copy of my partner’s home lease and utility billsBusiness phone billsA signed letter from the bank verifying our accountsBank statementsHonestly, it feels more like qualifying for a loan than trying to become a customer.

We decided I’d utilize an FHA loan to buy my first property.

Quote from @John Warren: @Mordechai Chaimovitz cap rates and NOI are commercial real estate terms, and 1-4 units are not really valued in the same way.

@Madison Sloan All depends on what you're willing to accept and if you can get approved for a loan now or not.

Look for any clauses about rental caps, short-term rentals, or owner-occupancy requirements.

If you find an investor to buy them, send them my way for the loan.

They are all on separate parcels, paid off and occupied by long term tenants.

Consider different strategies like mid and short term rentals as I believe the Portland area would allow for success in both (although I have heard Portland proper is tough on STRs).Best of luck!

If you have bank loan (not an agency loan) or no mortgage at all, an LLC is certainly an option.