We are both residential appraisers working the NE Florida markets looking to transition over the LONG term to replacing our modest annual income through small/mighty single-family by buying in the path of progress where prices appear to be somewhat undervalued relative to long-term upside potential.

Enter...medium-term rentals.

Can refi an existing mortgage to a shorter term “Mini Mortgage.”Navy Federal 80% LTV Norway Savings Bank, MaineOmaha MortgageOregonians CU - ORPenFed - max 3 other properties, including primary. 80% LTV, prime + 1%, <4 propertiesPeoples Bank of NCPSECU up to 80% Quorum Federal Credit Union 80% LTV, owned by LLC is OK.

While this works in certain circumstances (IE you are buying under market value and rehabbing to increase to full market value) it will not be as simple as putting lipstick on a pig and commanding a higher property value.

@Julie Hill 2-3X returns compared to long term rental?

LOLLong term, especially in emerging markets where there is job and population growth, things will be fine.

The key is to buy quality properties and get quality tenants who will stay long-term. 

Here's an article I wrote recently for the BiggerPockets blog about short-, medium-, and long-term passive real estate investing options: https://www.biggerpockets.com/blog/gaining-financial-freedom...

Are you looking for long-term or short-term/mid-term?

Quote from @Brittany Smith: This is a long-term rental.