I do understand that not partnering pushes back your timeline substantially...I'm in the slow and steady wins the race and stay small, own it all camp, though. 

The thing about condos is the HOA will go up and your mortgage stays the same so you will end up losing by the end of the mortgage. 

Yes, Always stay on top of your properties and/or investments .

You might find VRBO guests book longer stays, vs Airbnb that is weekend heavy.  

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. 

I am staying wondering why there is so little information on tax liens,  i read some books on notes and foreclosures but looks like a big secret here... maybe that's the reason... i need to go into this to find out :)

I know what my ideal life looks like in ten years, unfortunately, I don’t feel like I can have my ideal life now because I am having to stay in the state that I am in until we can move without risk of my husband losing custody of his child, which will be in about 10 years so believe it or not I do spend a lot of time thinking about what I want the future to be like.

It will include a compact bathroom, a tiny kitchen area, and a heater—just the essentials to make it comfortable for someone to stay in.

I prefer to stay further from the coast and hopefully further from major storm/flooding events (potentially lower insurance costs).  

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.