Commercial space rent in the area for similar properties is $3000-$4000/mo but property taxes annually are $25k+, insurance $6k+ and other expenses such as trash, water, heat & electric, etc. 

She appears so dang cool and friendly on the podcast, but my feelings were genuinely hurt on multiple occasions in the FB group by the coaches responses to my honest questions. 

Very cool IMHO, especially the owner financing.From what I have seen, a lot of smaller hotels (even larger ones) use VRBO and AirBNB.

If there is landscaping that you can add where, once established while you live there, requires very little maintenance and water, then do that.

And very important: most of the fresh water in the world.Also, MN has become landlord-unfriendly.

I didn't get a lot of water and it was all manageable by the tenants, but given this happened I want to try to understand the reason and where to look (e.g., do I need to install a new/ better sump pump). 

For example where water is included in the rent. 2.

You need to have enough money, probably in the $100-150k, amount to put the property under contract, and do the feasibility study on the property, Phase 1 Environmental, Property Drawings for roads, water sewer, and utilities, and have a completed budget so you know what your costs are.At that point you can go out and attract investors, I don't thing that developing raw land is necessarily cheaper than buying discounted finished lots. 

We have high inventory and we’re nearing the end of the leasing season, which starts to cool off after September.

I would advise to separate the water and power meters.