We would like to start building our portfolio with a long term rental, preferably a duplex, using a property manager.

So the long term average will be more important, but you will not know that for awhile.

But I would have the access to the MA MLS also, that can be helpful in terms of wholesaling. 

There are several notable Non-QM lenders that offer reasonable terms on 5-8 units and very strong borrowers (with half the networth of the amount they're seeking to borrow) can go up to 29 units. 

Do you have an idea of the short term rental regulations in the SLC?

The only time that you might run into a problem is when an HOA does not allow for short-term rentals.

Are these attractive terms for a housing market that appreciates on average 6%?

This will be subordinate to the existing FHA loan, but you’ll need to qualify based on your credit score, income, and debt-to-income ratio.Home Equity Line of Credit (HELOC): A HELOC could also be an option, offering flexibility in how you draw and repay funds, though it might come with variable interest rates.Balloon Payment Loan: This type of loan can offer lower initial payments with a large lump sum due at the end of the term.

Many lenders offer flexible financing terms for investors.Do you have any properties in mind?

I’m open to both, short or long-term, in Austin or the surrounding areas (mostly considering San Marcos).