Long-term rentals are a solid choice, but mid-term rentals in medical hubs (like yours) can offer strong cash flow with less turnover. 

I own a duplex with my husband and have been self managing the rentals (one is MTR and one is LTR) under my LLC.

Use the funds to buy 1 -2 LTR rentals cash or use a loan and get 3 - 5 LTR's.

Possibly most important: can you utilize any losses generated by the rental property?

Since you’re looking for a safe neighborhood with good rental potential, consider areas with strong job growth, good schools, and steady rental demand.

My wife qualifies as a Real Estate Professional (REP) in 2024, but she did not qualify as a REP last year, and our rental losses were passive in prior years.

Even if it was a short term rental before, it'll only take one neighbor to complain to cause you trouble.

Quote from @Mary Jay: Quote from @Jay Hurst: Quote from @Mary Jay: hi guys,so I have a lot of equity in one of my rentals but the interest rates are super low on it. so I dont want to do a cash out refinance on it because I dont want to lose the 3% interest rate on it.I want to get some cash out of it via Heloc or another vehicle,  so I could buy another rental, but its not my primary, so I cant get a HELOC on it from lots of banks....I think PenFed does helocs on rentals, but because I have more than 5 rentals, I dont qualify for their HELOC loan.IS there a bank that would give a HELOC/cash on a rental?

I can do the parade of horribles for a personally owned rental property but suffice it to say that it is a long and robust parade and the horribles are horrible.

Does it need to be converted back in to a rental after your 2 years to qualify for a 1031?