I'll be looking for long term rentals that don't need any major repairs initially. 

These properties are tenant-ready properties and support long-term growth. 

Another possibility I looked into is simply leave the current SFH as is since we have long term tenant, but build ADUs on the lot.

Depending on your current rate or if the current loan is short term or long term.

This will provide some amazing long term appreciation!

What's the annual ROI on the cost of the points to you in terms of savings?

@John R Bongiovanni Aside from those services, I have done a lower security deposit in exchange for a higher rent on a long term tenant and they were fine with that.

If you have scorable US credit, you'll get better terms.

In some cases, federal tax credits like those for low-income housing or economic development might also apply if the project aligns with certain goals.Instead of buying the land outright, developers often lease it from the tribe, which can reduce upfront costs and sometimes come with favorable lease terms.

These low interest rates make financing property purchases more affordable and appealing, enabling investors to secure favorable mortgage terms.2.