Personally, I'd go with the As-Is scenario.

Is the property just a regular-style house or something you can build an experience around?  

lots can go into this somewhat simple question and most of it is personal preference.- you'll want to define "best", and what that looks like for you as a success.- How much money do you have to spend?

Airbnb.org, the nonprofit arm of airbnb.com, offers hosts options to assist with emergency housing in times of crisis, such as the 2025 Los Angeles wildfires.

Me having several thousand good reviews help, but personally I would not book a property with 0 reviews. 

Questions they will have is who is the owner, what experience do they have, is their key person insurance against them etc. 

Quote from @Jessie Dillon: just my 2 cents.. i'm not a fan of the syndication model. there are better ways to invest more passively where you have more of a say in what goes on, can achieve higher returns, and can have your personal interests at a higher priority. 

The biggest things for our energy bills are: how many ac units are on the house and do you have a hot tub.

As the economy shifts, there will be new ways to grow your portfolio, but success will require staying nimble and informed.Bessent’s commitment to cutting the federal deficit involves a mix of spending cuts and revenue adjustments, which could directly affect government-funded housing programs and infrastructure investments.

Oh, those older houses!