The SMARTEST thing I did...was follow a "who" not a brand or company or model or some "thing". 

The referral fees, which operate similar to a multi-level marketing models, often incent these students to post the rare assignment fee check that does get done to every social platform they can and make it seem like they have an "in' with the guru leading the program. 

So you have LP who makes investment then when it does not go right has no clue what to do @Chris Seveney then points out not only did they get wiped out but if there is significant cost seg taken there will be some pretty hefty tax due and the LP did not know if there was a cost seg or not..

I would recommend taking a look at the BRRRR model in a cheaper market like Columbus Ohio.

An engineering backed modeling study would be good for smaller residential properties.

If I took that approach I would have negative cashflow which isn't a good sustainable business model. 

Ya, like Ben Vorspan mentioned, AvantStay has moved away from their "master lease" arbitrage model.

I don't necessarily follow that model anymore, but it was a great place to start.  

Model the performance of the property.

If you have a partner and are a minority owner or LP in the deal, you may find something, but that doesnt sound to be the case from your description.