You can get creative with the terms and even throw in some real care like if they attend classes or group then X.

My question is... 1) The contract (which I never signed but the tenant applied the rental assistance program with) states that the rent term is month-to-month for 1 year and the lease term is coming up in this May 2024.

My long term REI goal is to generate $120k per year in passive income (this number is always going up to account for inflation).

At this point, a good real estate agent can negotiate the selling terms of the property and get a contract in place.

A per bed, mid term approach seems like it would be the best approach in its current state.

It's tough to say with certainty and it a lot of success in the MTR market hinges upon operating ability, property layout, understanding your clientele and ability to adjust to the market.This article does flag some cities that are good for MTRs: https://www.stessa.com/blog/hot-spots-medium-term-rentals/

By doing so, you could redirect the funds currently spent on rent towards acquiring assets that have the potential to generate long-term wealth through appreciation and other investment returns.When considering partnering with a turnkey company, ensuring their reliability and alignment with your investment objectives is crucial.Regarding financial advisors, seeking recommendations from trusted sources can help you find professionals with expertise in real estate investments who can assist you in making informed decisions that support your financial objectives.In summary, prioritizing the acquisition of income-generating assets can play a vital role in building wealth and achieving financial security over the long term. 

Hello Group I have a short term rental in the Santa Cruz area that I am looking to get homeowner's insurance on. 

The lady said it's like Section 8 but for a limited term of one year. 

I trusted this agent because she was recommended to me by one of the MTR gurus/book writers as a high professional investor-friendly agent.I had planned to implement a mid-term rental (monthly) strategy, but I cannot do so due to HOA restrictions and high insurance costs.