I’m potentially looking to purchase a mid-term or long-term rental property in a different state because I feel I may be able to find better deals elsewhere.

I find each jurisdiction is different..

Pyment is $1,054, but $625 is interest.If you sold current house and bought new one with same mortgage amount, but current interest rate of 7%, the payment would be $1,663, interest amount $1,458.So, the interest cost difference would be $833 month!

Not really any different than anything else.

The signing parties are "stopped" from saying anything different after they sign the letter.Each Tenant Estoppel Letter states the attached copy of the tenant lease is accurate and was signed by the tenant, there are no other written or verbal agreements, the tenant has paid rent through a certain date, and there is no prepaid rent other than the current month.

Be sure you are comfortable with the math and know exactly how much you should be getting depending on how the property performs at different levels.  

Selling below FMV treats the difference as a gift, requiring a gift tax return (if exceeding $19,000 in 2025).

Just the different brand name lowers the cost dramatically!

It's a little different but structured properly it beats the work, hassles and uncertainties of flips.

After the luxury cabin, I will likely do it again in a different market.