or options 3, 4 and 5 don't supply washer and dryers and either the tenant provides their own, rent appliances or goes to community laundramat.

The months of supply, a key indicator of market health, sat at 8.5 months.

Need to supply them with Pay or quit notice.

I just did a quick search of the area and there appears to be an ample supply of properties with an average rent of approximately $1.10/SF.

Now we see 2023 in reverse, where that year had real demand greater than real supply.

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.

For any commodity market, costs are passed to consumers when demand balances or outstrips supply.

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. 

With the fires, labor and materials are going to be in short supply.

IMO, the best strategy for that type of individual is to purchase residential property in an area they are or can become familiar with; in an area where the neighborhood is “on the rise”, typically where demand exceeds supply and people are spending $$$ on fixing up properties.