I'm also contemplating offering a 20-month lease, though I worry it might seem daunting to the tenant.

Some lenders will offer a blend of the two with something like a 14 year term.If a lender asks for more, they're imposing additional restrictions over and above what SBA requires.  

We've gone back and forth on offering a unit or two as fully furnished mid-term rentals but are on the fence. 

Seems many old sellers don't understand how high of rents a duplex up can get in 2024. 

So for a $500k investment you would look to raise $250-$300k and get bank money for rest but your overhead will be too high.

As the market cooled in 2023, price growth slowed to 8.3%, and sales volume decreased by 15% from the 2021 highs.

Building is a lengthy process that requires coordinating multiple aspects, which can be time-consuming.On the other hand, buying an existing property is generally cheaper upfront and offers the advantage of immediate availability, so you can move in or rent out quickly.

Especially since you don't live in SD anymore.Lastly, multi family units and apartment complexes simply offer greater economies of scale for maintenance and other expenses because it's more "doors" under one roof.

Builder offered incentive we used for a 3-2-1 buy down.

I think the property tax rates are high.