Each require county inspections that extend the permit process.

The premise of those opportunities are based on you living there for an extended amount of time.

Quote from @Neeta Agrawal: For context, we gave the tenant a 60-day notice for non upkeep and no repair communication in 2023 and then extended it for 30 days upon his realtor's request, setting the move-out for May 31, 2023.

On utilities, I bought a foreclosure in NJ and found out it was not attached to Town sewer and I actually had to extend the main line up to my property then put the lateral in and abandon an old cesspool.  

The house is a foreclosure so we cannot extend closing date.

The checklist here acts as a roadmap, ensuring that nothing is overlooked.Knowing when your due diligence should be completed or when to close or extend your contract is of utmost importance.

A personal liability policy "MAY" extend to one or two rentals but if you are planning on building a portfolio consider the commercial umbrella.Another thing to consider is that the courts frown on carry high personal liability but low business liability when trying to hide behind the vail.

I would lean towards recommending that you pursue the deal - plus having the property remain in your family may be a net positive for you and your extended family regardless of the ultimate financial return. 

I have extended family in MN, which is a plus and something I’m factoring in as well.I’ve heard from friends in Iowa that MN winters are on another level, which will definitely take some getting used to. 

If you purchase in a anti-landlord state, you'll likely have a harder time and deal with extended timelines if the need to evict comes up.