2) We have reasoned in past discussions that there is not necessarily a true 'shortage' of housing....it is often more of a situation where people cannot live exactly where they want to. 3) Of course everyone wants to live close to work, close to downtown, etc....but not everyone gets to have that luxury. 

Lastly, I feel like I am somewhat in the opposite situation from most, where i technically own an "investment property", however do not have a property in my own name.

First thing to understand, St Cloud area has a significant % point of rental units too ownership far above state average, with that knowledge at hand know regulations were far more relaxed for some time, and than a few persons came into the market and took advantage of that freedom and in short created a situation that forced the city into action, it's just that simple.

Any other thoughts or ideas for this situation?

Based on my research, it is possible to become financially free through real estate investing, but requires hard work and time.

Then, I'd offer some free insights or advice tailored to their situation.

What should I do in this situation?

It really depends on your current situation as well as your location.

In this article, we will discuss the three most popular repayment methods, how they are different, and in which situations one may be better than another.

I would suggest you could consider the cost to turn the unit (time and money).I have had this situation before and the tenants have always stayed longer because it simply takes longer to have their house restored or the like.