You do not have to live in the home in order to do that!

@Hudson Filippi What part of Northern MN do you live in now?

It will be remote, but since you live there now, you probably already have connections who either already know the house or local friends to find you good people to service things as needed.  

I live in Fl. where insurance is pretty costly but I am also investing in states where insurance seems less expensive.

I'd level up with a BRRRR, live-in flip, or house-hack before jumping into a challenging renovation.

What I was referring to was that I know two private lenders who have the borrower complete the Deed in Lieu documents at the Closing of the initial loan and then hold them in escrow during the life of the loan.

It has ample basement living space, that the tenant uses as a third bedroom.

Lower land and building costs mean higher returns on investment, and there’s a quiet but consistent need for quality housing as remote work and cost-of-living shifts draw people away from cities.

Should I be budgeting significantly more sense people are in and out of the property versus them living in a long time? 

Because they’re ideal for creating comfortable and functional shared living spaces.5.