@Matt R. our lease starts off with "Month to month" or "one year" as duration.........the one year will revert to MTM at the end of a 12 month term.

We had to extend the closing 3 times due to Covid delays and this was frustrating for all of us.Yet like all good things, just keep going until you get to your goal.  

If you think there's something in the future that would negatively affect rentals (i.e. eviction moratorium extended, new rental laws, different President, housing market crash, etc.) then look for deals that can withstand that temporary setback.If you purchase appropriately, rentals should be able to easily handle a downturn.

It's even more ideal if you can find a career with a firm that still offers a pension plan, you'll be able to build your wealth on the side with real estate while enjoying the benefits of extended health, dental, insurance etc..

City just extended the moratorium on new applications for STRs until Feb 2nd due to the influx of noise complaints during this pandemic.

If there is enough space behind the pad to pour more concrete and extend, can I do that?

I feel like people may once again be over-extending their credit/mortgages and that once this and the after effects of COVID hits then we will see another housing collapse.

They want the Fed to say that interest rates would remain near zero until inflation has moved above 2% for an extended period of time.

This can happen due to market correction or extended loss of a tenant. 

@Josh Reighardyou mention having a "partner", what is the deal structure between you and the partner.Just a friendly reminder - if you have some type of partnership set up, you are required to file a partnership return which are normally due March 15 with the possibility to extend to September 15.If you do work with an accountant and do have a partnership setup, make sure he/she is well versed in partnership taxation.