Also, on the refinance, I would have the same question about the term of the loan.

If terms like this aren't in your lease, they should be.

The commercial units would need high credit tenants with very strong, long term leases for this to work. 

However, I'm currently based in CA, and we pay a pretty penny of our post-tax money to vacation in Airbnbs over the summer so that's one (personal) benefit to purchasing one, and I would like to be able to visit the property relatively easily (ie. by driving there).

Getting into the story behind this one..This deal was sourced from a large corporate wholesaler (no names) Originally listed as 179,999 as a "wholetail" deal with an "ARV" of 250,000 I walked the house and estimated it needed little in terms of repairs, though I knew a realistic ARV was between 215-230 However, there were tenants in the house without a lease agreement with the current landlord.

If this is a primary, you will have a good rate/term with a local bank/CU.

The Fed recently adjusted its short term projection to one quarter point rate drop for 2024, though it had earlier predicted as many as three drops.

Now, I have a portfolio of Short Term Rentals and Long Term Rentals.

Purchase is secured by a long-term escrow with no cancellation.

A land contract allows you not to reflect the terms sale in the public records.