I would highly recommend that you focus on what you want to start out with first, flip or long-term rental.

Together, we negotiated favorable terms with the seller, ensuring a beneficial deal.

Now it is a stabilized long term rental on both sides for me.

In return for the City's rehabilitation assistance, participants agree to certain long term (5-20 years) rent and occupancy restrictions which provide for the continued availability of the housing to lower income families at an affordable rent.

It depends on the details whether its a yes or no...

Also, you can't take short-term rental income for granted as if it was long-term rental income.

@Rehaan Khan yes as said the term is "Seller Financing" however I sugest you do not use that term as it might confuse the seller.

Here’s my situation:I didn't read all of the details but in June or 2025 your tax burden will skyrocket.

The short answer (pun intended) is a Short-Term Rental or an STR.

To calculate net operating income, deduct projected operating expenses from estimated rental income, including property taxes, insurance, maintenance, property management fees (if applicable), and any vacancy allowance.Second, think about working with Buddy to get better terms.