That said, we have traveled a lot and stayed in wonderful Airbnbs over the years and have always dreamed of creating an incredible experience for someone visiting Minnesota with a short-term rental as well, so we are definitely open to that idea and have some great experience as to what we know would provide an exceptional short-term rental experience. 

MTR attracts a lot of traveling medical professionals and WFH individuals who need a quiet space during the day, which may not be compatible with families living in the attached LTR.

Second question is, if we don't live in the city we will invest in, we understand we will have to be traveling often, but who could be a good person to check in on the construction so we don't have to go every week?

EPA violations typically travel with ownership.   

You can do this without bankruptcy and if you continue those new habits you can move on to buying an investment.

Forgive me going into details but just wanting to give you a clearer picture of our rental property townhome, which is zoned 2 family there are 4 habitable 800 square foot floors for a total of 3200 ft habitable. 

Those places were awful and barely habitable, but it is what S8 prospects are being offered.

Quote from @Steve Tse: Hi BP, What insurance carriers can you recommend in Texas, as I am shopping around to replace my landlords policy that I currently have with Travelers ?

Meaning you can spend the time traveling to the market(As we did for 18 Months once per quarter) or you can seek a reputable operator in the market you want to invest in and leverage their team. 

Beachfront or properties near attractions tend to perform best.Mid-Term Rentals (MTRs): These are gaining traction, especially with traveling nurses and remote workers.