Since the BK must be disclosed in any securities offering, you would not be able to be a partner in a syndicator/sponsor type deal9.

After living in the property for a full year, we have come to terms and accepted that this is not our ideal location.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Property Valuation:Investors look at a variety of factors to determine a property’s value, including comparable sales (comps), rental income potential, and location.

You said "your neck of the woods", where are you located?

The properties are well located in Denver with value add potential and all rents are currently well below market. 

A property could be cheap but be located in a low performing market.

If the property is in a location that would justify these standards, then wait. 

I guess that's part of my question, if you could have the security deposit cover that and people's experiences so I could better prepare myself. 

If it were me, I'd be looking for something in that location to offset the negative impact of the casino.