this worked out well in the short term for us.  

Many people who are long term renters can't save enough money or have problems with credit, hence they are still renting.

HELOCs generally are not so well suited for long-term debt as a mortgage.

I currently own my primary residence and recently decided to buy a piece of raw land where my father’s construction company is, and with his help,  build a single family home on it which will become a long term rental when completed. 

Thanks Hi Karolina, I meant to comment on your previous mixed use post, provided 50%+ residential and 85% occupancy should be several reputable lenders that can provide workable terms. 

That typically runs several months.

Do you intend to rent the property out via short-term or long-term rentals?

I reckon I've personally acquired a least three properties on seller terms and have assisted at least three others in three years acquire properties with favorable seller financing. 

One with brutal, silly terms.

Hi John,Converting your existing home in Castle Hills into a long-term rental while managing it remotely from Austin is a feasible endeavor, but it does come with its own set of challenges and considerations.