Even with the ban on new short term rentals, long term rentals are yielding incredible cap rates.

@Taylor Holden Hello Taylor, LVP luxury vinyl plank flooring is going to be a much better long term solution to flooring than carpet.

Long term tenant moves out this summer.

Hi, I am bit of confused between selling or keeping as long term rental regarding a property that I own in Seattle area.

Having said all that, if the area is large enough, the fence is in good shape, the owners seem responsible and your covered by insurance it could be a good opportunity to get a good long term tenant. 

You may need to show that you have completed at least 1 fix and flip or hold to get the full cash out, otherwise it may just be a hold back for the renovations and a rate and term refinance for your 1st mortgage 

Ideally, I'd like to run a strictly mid-term rental operation, though I'm open to short-term if it make sense given the regulations here.

When you pull out the 75% value (which in your example is $150k) and use that to pay off your initial $100k investment and $50k renovation costs, you’re breaking even in terms of cash.

We have about $30k of net cash flow from our 2 active properties - 1 short term, 1 mid term.

Another option is to pay the loan on a 15 year term.