Find out what financial problem you are trying to solve in the short term until your able to get to more "long term" problems that real estate helps with 

I think right now is trying to find the right price to sell at to attract attention and get them liquidated faster is the MO right now.

From my understanding, as long as you intend on doing a STR when you close, there are no rules against changing your strategy after closing, especially if you find that something else is more profitable.So in our case, the lender determined an STR would bring in ~$3500/month (with all of their conservative factors), but now that we operate it as a huge 3300 sqft Co-Living property, it actually brings in $7000/month.

If you can sit on the sidelines and be choosy this requirement is fine, but you are going to have to kiss a lot of frogs before you find someone with that much cash on a wrap sale transaction...it may take 6+ months unless you advertise like a mad man3.

But in general, your biggest risks are not necessarily what's the maximum rent you can get, but can you find a reliable tenant that will always pay and pay on-time.

It's possible to find great tenants with thorough screening, but also be mindful if you're considering short-term (e.g., AirBnB) as it will expose your property to bad actors.Law enforcement and the legal system seem to operate quite slowly out there.

How did you find this deal and how did you negotiate it?

If you have someone in MN you trust to manage the place that is one thing, if you don't it kind of answers the question (not that you couldn't find one).Renting out homes which you are emotional attached to can be quite difficult when tenants trash them (which will eventually happen).Best wishes

How did you find this deal and how did you negotiate it?

This is usually done to increase your rental income but it comes with a price as you are finding out.