In an SRO they can be M-T-M, shorter or longer.

Sure values have plummeted in some markets but the underlying cause of that is the shorter term financing associated with commercial.  

Hi Michael, You could structure the loan on shorter term so you end up paying less interest over the life of the loan.  

If it is 45-60 days are doing well, if this is shorter than you are in a position where you are either priced too high or the condition is not good enough (or both).

This is because HELOCs tend to have higher interest rates and shorter terms.

The whole property is not reclassified into a shorter useful life, just specific items.

Second, the height of the railing is a little shorter than code allows, or I am comfortable with in a rental.

Your mortgage lender may require you to occupy within a shorter time frame, which may be legal justification for giving a shorter notice.

Quote from @Neil Warren: Hard money loans are at higher-interest rates and for shorter terms, meaning you will pay them back quickly, usually in 12 months or less.You should not borrow 100% of the purchase price.

Go with a month to month or a shorter lease period.