You can offset other passive income of gains with depreciation from your long-term rental.  

I tend to shy away from homes over ~20 years old to buy and hold for long term renting.

Quote from @Chinku Chinku: Got a townhome in suburb area of Houston for long term rental close to katy mills (<5miles).

Much better as a short term acquisition strategy for flips IMO but always a high-risk strategy that should not be practiced by anyone who doesn't have the liquid capital to pay off the loan if needed.

please let me know if you have successfully completed a creative finance deal and you have some terms example breakdowns i can take a look at much appreciated im trying to buy an apartment complex asap

Being out of state, I would suggest vetting your "team", meaning find an investor realtor, lender/s (hard $ / long term), property manager, contractors, etc.

Does anyone have any experience with furnished mid term rentals?

A HELOC is a short term debt instrument.

Purchase price: $530,000 Cash invested: $100,000 My journey into short-term rentals began after years of investing in long-term properties, but it was a podcast that opened my eyes to the incredible potential returns of STRs.

A HELOC offers flexibility and lower interest rates, which can be ideal if you’re looking for short-term financing with lower payments during construction.