So as long as the demand is there and the boundary is never expanded (which is very unlikely), then the supply is so low that real estate there should essentially ALWAYS be in demand.

Based on what I've learned through my research so far I would not buy a CA property just for Airbnb, unless if it's somewhere where I could potentially use it for a long term tenant if things were to change.. but this is a little different. 

The term includes cooperative apartments, condominiums, and the like." 

I’m looking to buy some single or multi family units for long term rentals that would provide at least a moderate degree of cash flow.  

There are a few ways to go about structuring the loan for you on favorable terms. 

Purchase price: $674,000 Cash invested: $134,000 Long term rental purchased in area that is under development and predicted to rise in value over the next 5 years - 2br 2bth

This enhanced financial profile may lead to better loan terms and lower interest rates.6.

Also, on the refinance, I would have the same question about the term of the loan.

If terms like this aren't in your lease, they should be.

Most large land listings sit around a long time.