The majority of 1-4 MF are in super expensive areas like Montrose, less desirable areas outside of town, or new developments which haven't proven their long term attraction. 

• Term length?

At best, maybe an expensive private or alternative lender would consider it, but even that’s a stretch.In my opinion and most importantly beyond the financing hurdles, you have to ask why a seller is willing to carry a 30% second up to the full purchase price instead of selling the property in a normal, arms-length transaction.

I’ve been seeing hosts go in VERY different directions with minimum stays:Some swear by 30 days, others don’t touch anything under 45 or 60.Personally, I’ve experimented with different lengths depending on the season and guest type.

Not to mention the interest rate and the term length. 30-50 years is a hard no.

Who are we to dictate what length of term is "acceptable"?

Figure out what terms you would be happy with( DP, interests, balloon payment, length).

The avg length of stay was 4 days and we spent ~200 hrs preparing the house to rent and managing numerous platforms and guests throughout the year.Consult your own tax experts, I am not a tax professional.  

I don't particularly care about the length of time because:a.

I firmly believe in next 5 years this area will be " Highly desirable" for young professionals that like walking into downtown (Wilmington) having there social life near by.