You will need to find partners, you will need to travel to where you wish to invest, you will need to understand the ins and outs of the business by being actively involved and treating it like a business and not some super passive investment.If you don't want to do that work I suggest you just put that 200k into some sort of diversified mutual fund that can make you 10+% on your money without any of the work of real estate.At the end of the day this is just my advice and I'm only a stranger on the internet.

These are primarily found in cities with a population >1M.Pro-business environment: Many cities treat employers as adversaries through restrictive policies.

I did not initially purchase the property as an investment, I bought it as a family compound to escape northern Minnesota winters, though I treat everything as an investment and made sure to have exits.

Does anyone know what I can do to treat it ?

@Jacques Caspi Treat it as a business the second it's yours.

Eventually I realize that when I think about living on post-expense rental income, I’m treating the income as the “withdrawal rate”, in Boglehead parlance.

There can also be chemicals in the treated lumber that are harmful to the environment.Invest in a good screen or built in door system.  

You need to develop a subject matter expertise and treat this like the hands on business that it is. 

If your expert determines otherwise, then maybe you have a case that its a bubble gum/bandaid repair and treat it accordingly asking for a proper repair.

@Rud Sev, I would ask the syndicators you are considering if they have any sample K-1s they have issued in the past to try to get a general idea of how they treat their common taxable items.There are a few things that are likely needed to be outlined:Your capital account balance for the investment, i.e. how much money the syndicator is saying you have outstanding at any time and used to calculate preferred returns, can vary from your taxable capital balance shown on K-1.