Quote from @Jessie Matlock:One of my main questions is, I've been told I'll receive a K1 statement and that my monthly returns will be tax free. 1) Is it true they will be tax free? 

Investors like me are left sifting through overpriced junk instead of finding real opportunities.This has always been true.

For most investors, to provide true separation would be cost prohibitive (between $10k-$15k). 

Without knowing all of your specifics, I'd say that it's only worth holding on to if you can reasonably expect to have some really good appreciation in the near future (like 5 yrs)....Or, in the case where it would run well as a vacation rental, you could switch the usage, maybe?

Posted twice for some reason.  

@Matt Weddon - make sure all reasoning & communication around the rejection stays clear of all federal AND state protected classes under Fair Housing.

The tenant isn't paying rent so it's reasonable to assume they aren't going to pay the electric bill.

Same would hold true in a beach environment in the summer months. 

Quote from @Zachary Deal: Choose neutral safe tones and get nice materials but don't splurge too much on very fancy cabinets, counters, appliances that someone else may not value the same as you.This is so true.

Is $107k your true net, or do you have any other expenses (mortgage, taxes, lodging taxes and fees, insurance, utilities, landscaping, WiFi, etc.)?