I could come up with a down payment for an investment property in a different state easier than my home state at prices are pretty high in the 300-400 k just for townhomes.

You probably also find a huge difference between SFR, Small multi and large multifamily.

As others correctly noted, as a landlord you must look at the big picture and if this happens to be a good tenant who has occupied the unit for a while, has a history of timely payments and has expressed interest in remaining at the property the value in an extension (assuming that is advantageous to you as the landlord) should be placed above your desire to collect rent in a certain method if this particularly tenant has strong desires to make their payments in a different manner....especially if the lease they signed allowed a different payment method.

In our area we have 3 different HUD agencies that provide vouchers to qualifying tenants.  

I've even seen agents that will finance repairs with a lien to maximize sales price for their seller.Who you work with matters and will mean the difference between a quality BRRR that cashflows or a property that doesn't work.I love to talk real estate.

What are people seeing for terms nowadays in different areas?

Some lenders will also have seasoning requirements for the loan itself, which may be different than what's required for ownership.

I’ve owned different residential homes in California, both sold off market and for over asking.

However, the tax treatment differs between short-term and long-term rentals:Short-Term Rentals (STRs): If you materially participate (work 100+ hours and more than anyone else on the property), you may be able to offset rental deductions against W-2 or other active income, offering greater tax benefits.Long-Term Rentals (LTRs): If your AGI exceeds $100K, your rental losses may be limited, unless you qualify as a Real Estate Professional (REPS).If you plan to expand your rental portfolio, consider an LLC later for liability protection and easier management.

Talk to different agents in different brokerages and get a feel for what might be a good fit for you.