These are big ticket items.Try to figure out the total repair and work on the important deficiencies.

Combined LTV isn't as important as equity above the first.100k house, 120k first, 40k second = no equity100k house, 90k first, 40k second = partial equity, shouldn't get strippedYou don't need "equity in the house", you need equity that protects your position.

This will be important given potential tax changes in 2018 which will perhaps eliminate your use of mortgage interest paid on your personal home.

The first and more important step is to learn MN law from a legal source (not BP). 

I can’t overstate how important his generosity has been to my success.)July 13, 2016 – I sold the condo for $510,000.

I know what that's like but, more importantly,  I know what that may mean.

You should also spend time at your local LTB hearing to get a better picture of how the board interprets the RTA and how landlords are treated.The most important advice is never waste a single day hesitating to issue LTB notices but make sure you do it right.

Zoning rules will be VERY important to your effort. 

Your experience underscores the importance of me communicating with my cleaning staff regarding photographing any damages they notice, and making sure I have proper documentation for all services (which is not only beneficial for potential claims, but also for tax time!).  

Partly because of the cost savings, but partly because of the knowledge you'll gain that will be important as you grow your portfolio.