Short term or long term?

Negotiate terms like purchase price, down payment, interest rate, and repayment schedule.3.

This is sometimes referred to as mid term rental (MTR), but an MTR in most jurisdictions is simply a furnished Long Term Rental (LTR) with short lease agreements.This could allow you to rent to students and medical professionals.  

I'm not in PA but if you're investing out of state, you should definitely check out David Greene's book on the topic: https://www.amazon.com/Long-Distance-Real-Estate-Investing-S...

Make sure the $400-$500/month cash flow is enough to cover unexpected costs.It wouldn't hurt to look for other refi options or consider a different loan option, which might offer better terms.

This is reason #42 why I only offer MTM leases.Now that that is out of the way, if they are on a term lease, just give proper notice to terminate based on your lease verbiage and local laws(!). 

They may counteroffer or request modifications to the conditions outlined.Documentation: Ensure all parties sign and agree to the terms of the offer in writing.

However, clarifying the long-term business objectives/strategy is key before finalizing your entity set-up.

I understand that reading is valuable, which is why I'm curious to know which book you would recommend for a beginner like me to start with.I have yet to buy my first property but my goal is to house hack every year,  while buying and renting properties to hold long-term until my portfolio brings more cashflow than my W-2 job.

If you want the job done faster and for less money , have as little stuff in the house and have 2 or 3 rooms empty to work on . 12 to 18 months is a long time for a cosmetic rehab .