There's a couple of things that make this more attractive than the other option sugggested of forming a new LLC to own the property.First is the expense and reporting involved in another LLC entity.Second though and more important in my book is that by having your LLC own a TIC interest and having your partners LLC own a TIC interest you keep the utmost flexibility available to you as you move forward with that property to eventual sale and possible 1031 exchange.  

Showing a property in bad condition is only going to attract low-quality renters.

This attracts a sizable population of renters and results in a steady demand for rental properties in the region.

Properties located near amenities tend to be more attractive, which can result in higher property values and rental income.Legal Factors to Consider When Choosing a LocationThere are several legal factors to consider when choosing a location for real estate investment.

You want to consider regions that you are personally attracted to first.

Note investing is something I hope to get into the future, get an attractive return and not having to deal with tenants.

North NJ is very attractive for many reasons, one of them is its convenient transportation to the NYC. 

You therefore have to research well on the market before you consider this kind of investment that requires town location without too high prices but attractive earnings at any given time.Cities such as Dallas-Forth Worth, Charlotte, Indianapolis, and Atlanta have varied job prospects and available affordable multifamily properties.

This classic “leveraged buyout” is the basis for what we call “private equity” (KKR) today, but of course requires significant capital, business and financial expertise and experience, and a business target large enough to attract top tier management with incentives to out perform the previous management.   

How would I go about analyzing, building, financing a project to attract well healed boomers?