ihave some good money to fiddle with but iknow that just because ihave it doesn't mean ishould just take on such a project.would really like everyone's opinion and advice.location is Rochester, MN home of the mayo clinic.im thinking to rent out to either traveling nurses that come here to study at mayo or to rent it out to patients who come to visit the clinic.thanks in advance!

How else does a millennial get ahead in this economy!?

It'll be wise to visit with a real estate attorney before you move forward with any other agreements with the neighboring property owner. 

You're far and away ahead of most people your age and just keep learning.

Though I don't anticipate needing keys and won't experience any damages ahead of this date, I'm uncomfortable with owning an asset that I cannot access in the event of emergency.

The Days on Market (DOM) figure for single-family homes fell from 51 to 29;Total property sales increased 1.6 percent with 11,285 units sold;Total dollar volume rose 16.9 percent to $4.0 billion;The single-family average price increased 13.4 percent to $372,408; The single-family median price rose 13.3 percent to $300,000; Single-family homes months of inventory registered a 1.8-months supply, down from 2.4 months year-over-year and below the national inventory of 2.6 months;On a year-to-date basis, single-family homes sales are running 15.3 percent ahead of 2020’s record pace and 21.6 percent ahead of 2019.Townhome/condominium sales rose 11.7 percent with the average price up 12.1 percent to $240,994 and the median price up 17.6 percent to $210,000;Single-family home rentals fell 8.2 percent with the average rent up 9.0 percent to $2,115; Townhome/condominium leases fell 1.8 percent with the average rent up 6.3 percent to $1,793.Source: HAR

A lot of foreigners too like to visit Disney and that area.

You'll be ahead of the bell curve and ahead of your peers, no doubt.

They will insist that there is no other encumbrance ahead of theirs. 

We had the option of cutting our losses by selling the property OR to go ahead with our original plan of adding some sweat equity by fixing it up to hold/rent out.First off, I 1000% echo what the other posters on this thread have shared.