What is the security on the above?

Security brought some learning lessons for us.

But the bank still treats it as a secured debt.

One powerful tool that can help investors secure better loan terms is asset utilization—especially when the DSCR (Debt-Service Coverage Ratio) is under 1.🔹 How It Works:If your rental income falls short of covering your mortgage (PITI), you can use liquid assets to supplement your income.

If you stay in Northern Minnesota you could look to locate closer to Duluth which has a large supply of duplexes at prices much below $500K.

The PE investment feeding frenzy that started up 15 years ago as TOH parks started getting gobbled up is starting to slow as supply tightens. 

I just had tenants move out of my investment property (duplex) without paying for the last month's rent, and the damage they inflicted onto the property exceeds their security deposit amount.

1099, social security, trust payments, annuities, etc?

It's not an effective strategy but a lot of investors believe throwing in high end appliances in itself secures a buyer. 

Also, important to confirm they will be warrantable condos for end buyers otherwise it will be very difficult for end buyers to secure financing and thus purchase the units.