But as far as I know, mid-term rentals are mostly popular among tenants who needs to be in NYC seasonally or need to rent for 3-6 months before they decide on the property purchase and areas they want to focus on.

But want to retain my Fathers' Prop 13 low Tax basis when transferring ownership under California Prop 19 im told by the County tax accessor i can what's the best type of loan to buy my Sister out.

When talking with them ask them the type of parcels they are looking for and what sort of characteristics they need such as size, location, soil types, topography.   

This would help you avoid the need to do any type of reassessment and therefore avoid the need to file any property tax exemption/etc with the county.Additionally, this option would give you guys the flexibility on whether or not to move in while also offering you the capital gains protection via the Step Up rule (https://www.quickenloans.com/l...)

Apparently, generally it turns into a self-management type arrangement.As mentioned, don't forget that you'll have to property license the PM company, and take some sort of profit/income from it. 

You should consult with an attorney in your state to make sure that you are using the best asset protection strategy for your situation.Your budget: The cost of asset protection can vary depending on the type of protection that you choose.

You can keep learning here.Generally speaking there are 2 main types of loans for investors: “Conventional” and “Portfolio”Conventional - I'll define these as loans that come from Fannie Mae and Freddie Mac (if you recognize those names).

Popular places like Lake Placid have very restrictive rules and Saranac Lake is discussing new rules for their community as well.

You have to take into consideration a few things like Location, Property type, Number of Units, and which will yield a higher ROI like LTR or STR using VRBO/AirBNB.

I am seeking guidance mostly on basic entry level type of efforts.