The probabilities of heavy losses due to default are much, much higher with 2nds than with firsts.

This may be easier to find in smaller towns or rural areas.Growth potential: Research areas with growing populations or emerging business districts.Tax incentives: Some localities offer incentives for small businesses or specific industries.Infrastructure: Ensure reliable internet and necessary utilities for your business.Potential locations to explore:Atlanta suburbs: Consider areas like Decatur, Marietta, or Lawrenceville for a balance of affordability and proximity to the city.South Carolina: Look into growing areas like Greenville, Rock Hill, or smaller towns in the Upstate region.North Carolina: The Research Triangle area (Raleigh-Durham-Chapel Hill) offers opportunities, as do smaller cities like Asheville or Wilmington.Remember to thoroughly research local building codes, zoning laws, and business regulations in any area you're considering.

The more forward-thinking fractional companies are utilizing blockchain technology to automate a lot of the backend to help with this. 

Current lease agreement says tenants will cover utilities. 

You will not get all of the liens confirmed - there can be HOA liens, tax liens, utility liens, anything.

The unit is furnished and stocked and parking and all utilities are included.

More rental income than a long term rental (LTR) but less than a short term rental (STR) property.One thing to keep in mind is you are responsible for furnishing and maintaining the property and you might also be responsible for utilities. 

I.e. the value-add player that has moved to more core deals, or heavier performance alignments shifting overtime to more fee heavy structures.

I respect it, a lot of people buy in markets they are interested in so they can get some utilization out of the property too.  

Basically, you are being paid for a job.Or you can hire a PM (be more passive) and have income after expenses (PM, utilities, furnishing costs, etc) that is comparable to LTR income.