Many traditional banks won’t touch them, and even DSCR lenders will avoid them if the build out is done prior the securing long term debt. 

I wouldn’t touch long-term rentals as the laws are extremely in favor of renters.

Long story short, I have no primary home and the property the guesthouse is being built on is a LLC with 3 years remaining of 20k PPP.

Congrats on owning your first home in North Port, FL and looking to take that next step into long-term rental investing.

I haven't been in Detroit long but I've gained quite a bit of knowledge there about the section 8 and housing markets there in general.

From there you can start to identify what you are looking for.Where do you land on the follow spectrums:Cash flow and AppreciationLong term or Short term needs (waiting for growth vs get out of my W2 now)Long term rentals, Mid term rentals, Short term rentalsBuying close to home or coast to coastSelf manage or hire a PMIf you can narrow in on those, you essentially have your buy box. 

I am considering converting to a long term rental but thought that mid term might also be a good approach as well considering the home is fully furnished.

Mainly looking into flipping some houses and also small multifamily properties as long term rentals. 

Hi MichaelFor a seller-financed deal, especially for a multifamily property like a six-unit or larger, a typical down payment could range from 10% to 20%, depending on the terms you negotiate with the seller.

I have a long term rental in putnam county.