You need to package everything correctly and shop several banks as they all have different appetites rates and terms.

Not the long term take out, but in aquisition.

I am afraid to invest there for Long term rentals as a fear I will be vacant for quite a while.   

You are the closest living relative and you have inherited $10,000,000.00 USD.What is your long term strategy?

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.

Lastly, if this is a good deal, you might want to add some details on this post here to entice people to DM you.All the best!

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

Too few details to answer (Of course this varies county by county, all questions could be answered by reading the (zoning)/building code and/or clarified with a visit to the county planning office).but some clarifications because: lots of things are "tiny homes" but what you describe small houses "on permanent foundations" needs to be clarified , tiny homes could be:-stick built, see below. check your county code/planning dept-stick built cabins/recreational, a specific zoning and potential occupancy/etc restrictions but worth looking into where the zoning allows for it -hud manufactured homes (smaller singlewide perhaps 400sq ft 600sq ft minimum)-non-hud park models (on axles), ansi standards- other "RV's" built on a chassis:  organizations, state agencies, etc - will certify factory built (or sometimes inspected professional built) tiny homes on chassis - to whatever standards ansi, riva, dot/ l&i?

I am going to search for housing as a end user. https://www.furnishedfinder.com/housing/Manchester/New-Hamps...This gives a really good high level overview of what I can see in terms of actual listings.