I was reading the Schrodinger's famous 1926 paper, and he introduces his Schrodinger's equation as a real second-order in time equation (I modified it a bit) $$ \partial_t^2 \psi = - \hat{H}^2 \psi,\tag{1} $$ where $\hat{H}$ is the usual Hamiltonian $\hat{H}=\frac{\hat{p}^2}{2 m}+V(r)$. The complex first-order version of this equation is rather a trick, used to find the real solution (notice, solution to $i\partial \psi=\hat{H}\psi$ is also a solution to Eq. 1).
When modeling quantum systems, we always use the first order complex equation, because it is simpler, and the Born rule looks nice there. But can be that the actual quantum equation is the second order real equation and all the complex stuff is just a mathematical trick? Notice, we can always make a second order real equation out of the first order complex Shroedinger equation, but the reverse does not seem to be necessarily true. Are we missing anything by sticking with the first order complex equation, similar to how one would lack understanding of open quantum systems, if avoided dealing with density matrices and worked only with the wave functions?