Is there an option to do medium or short term rentals in this area to boost your returns in the first few years?

When we agreed on the Rent back, I discounted him $600 year and make the tenant in charge of the repairs up to the deductible.So I didn't have to hire a PM.This boosted my CoC.It turned out that Tenant has renewed the lease for one more year.

Let's say you end up getting a terrible mayor or governor in your region, it can make the current financial picture, laws and economic outlook change dramatically.

Both parties are expected to be knowledgeable in their "business" and all laws that apply.From the Agent side, the differences are dramatic in every respect.

They provide a boost of quick knowledge and motivation. 

If you're working with newer investors and don't have as much of a track record I'd shave that off to either give LP returns a little boost, or allocate more into operational reserves.Unfortunately preferred returns have gotten kind of mainstream, but I don't think they align the interests of investors and GPs.

Seems like you could dramatically increase your net profits when selling properties with no capital gains tax. “...South Dakota has no income tax, no inheritance tax and no capital gains tax.”https://www.theguardian.com/world/2019/nov/14/the-great-american-tax-haven-why-the-super-rich-love-south-dakota-trust-laws

But I have been thinking that maybe there's a way to get some of these and do some value add to them to make them more attractive to tenants and get a higher rent, thus boosting my equity.

Banks are designed to boost local business lending, but they are not build for longer-term holds of more than 5 years.

I still use a two tone paint scheme in my nicer units in Berwyn, but in tougher areas using the same paint on the doors, trim, walls and ceiling can dramatically decrease your costs long term.