I’ve got a single family townhouse long term rental.

If you have a lease that is currently in place, you have to keep the terms the same until it ends and then have them sign a new lease with the new terms (give them the proper notice required).

AS we know failure to pay tax or insurance is an event of default so one can quickly move against the asset if the borrower is not adhering to the terms of the DT / Note.

So, no new deeds need to be done until the existing deeds term has ended.

The consensus, not surprisingly, was that we are in uncertain times but there are certain societal and market fundamentals that make residential rental property, aka SFR and BFR, extremely attractive asset classes, short-term, mid-term and long-term.

Hi Claude,HELOCs are used usually for short term purposes.

I could understand if I was looking for hard money or private lenders but I figure if one bank would approve a conventional mortgage on a property most other banks would as well at the same or similar terms right?

The house I'm buying will be used as a long term rental.

Maybe they are making a bit more of the 10 year product, maybe they strongly believe that rates will be dropping and you will refi so the lower rate makes sense in the short term.

Typically, in this situation, I advise my property management clients (in Florida) to terminate the month-to-month tenancy of a tenant who is causing problems like this and to place a better tenant in the unit.As for the tenant who is requesting to get out of their lease, of course, you do not have to release them from a lease term on that basis, but look to your lease and state laws regarding their ability to terminate the lease (whether a lease term or month-to-month).