My plan was to take my sale proceeds and buy a number of cheaper properties in less competitive markets, but if I could keep the home in MN and make competitive returns it would be a no-brainer to keep it, assuming it doesn't become another full-time job.My hope is to gain some perspective as to whether this is a good idea or not - and rather than a "yes" or "no", I'd love to hear your perspectives on how to model it out for myself.

The most "efficient" use of capital is based on your perspective and is either to leverage your cash as much as possible (option 1) or to spend as little on interest as possible (option 2). 

I'd love to participate in a mastermind and learn from more experienced investors and hopefully contribute a different perspective as a newer investor.

This being my first rental property, I guess I'm assuming there will be a lot to learn from the landlord perspective and don't want to take too much on too soon.

My main worry with Series LLCs is that there are many unresolved questions from both liability and tax perspectives.

That said, does this mean I am off the hook for any capital gains triggered from the sale of the lower unit from your perspective?

When negotiating potential deals with sellers, what are the general questions to ask from a wholesaling perspective?

If I were you I would call the competing apartment complexes in the area and ask what their specials currently are as a "perspective renter" and then try to beat those deals.

@Nghi Le I'm not going to comment on whether she can "go ahead and make the purchase," but from a gift tax perspective, unless her parents have already gifted their annual exclusion, gift tax will be a non-issue.The difference between non-family purchases is that they are done at "arms length" meaning that the purchaser and seller do not share an interest of any kind.

From an economic perspective (ie EBITDA, margins, etc), is it still pretty terrible business?