The tax advantages of buying/holding gas stations are pretty great.Many of the components of gas stations including pumps, tanks, external parking areas, and other equipment are classified as either 5 or 15 year property so you can bonus depreciate a lot of it (minus the land value) and get significant deductions in year 1.With the current bonus depreciation rate at 60%, a $1 million gas station acquisition could still lead to $100K+ in year 1 deductions depending on the specifics of your deal.

Morris and his partner Bert Whalen (I think he served jail time) took advantage of OOS investors.

Just a supply and demand thing really.I like pulling the money out with no taxes and then still owning the property so I can take advantage of the principal paydown and appreciation and a little rental income. 

I'm a newbie so not trying to be taken advantage of.

If there are items you need to replace and they are less than $2,500, you can take advantage of the de minimis safe harbor election, which allows you to deduct those costs in the current year rather than capitalizing them.

Is it possible to take advantage of the bonus depreciation if buying multiple STR properties with a business partner?

I am a first time homebuyer and refuse to be taken advantaged of or have my affairs mishandled.

This could allow you to take advantage of bonus depreciation, which can significantly accelerate the depreciation deductions in the year you place the property into service

I like the idea of adding value as long as you don't spend too much cash and/or plan to do a cash out refi at some point to keep your cash working for you and getting a good return on equity; the biggest advantage with this strategy is the low down payment with the lowest available interest rate.

Out of state investing is great, however everyone out of state is incentivized to take money from you hence if you are not experienced or know what you are doing, people can easily take advantage of you.