I suspect that markets with landlord and developer friendly policies will see more growth, in terms of populations, jobs, etc. 

We use a company that sets up all of our long and short term holds in LLC's and our parent company is filed in Wyoming due to all information being protected and not publicly available from the LLC. 

This would consolidate your debt into a single mortgage with better terms.

I shopped around and Mutual of Omaha blew everyone out of the water in terms of points and fees.

Are you looking to buy for your own account to hold and collect payments for the long term?

Long-term rentals are much more difficult today, but that doesn't mean they are dead.

If you're interested in long term rentals, you could look into a DSCR loan that is based on the income the property brings in and not your personal DTI ratio.

@Mary Ciccarelli If the property is a good DEAL it's worth the effort.

If I buy a property with tenant in place, do I need to inherit the existing lease terms?

This allows for potentially lower purchase prices and more flexible terms.