A tenant complaining online might indicate that the property manager handled them appropriately, so be sure to ask the manager for their side of the story.7.

I invest in real estate as a "side-hustle." 

Obviously, everyone who bought in 2017 did well on appreciation.On the rent side, it was negative cash flow when it rented for 1150/month in 2017. 

I'm imagining something more like add a wall, turn a bedroom into a kitchen-living on one side and a formal dining room into a bedroom on the other side, maybe add a half bath in each unit.

You have many options.I have done the development side before and unless you are experienced, be careful.   

It seems a stretch to pay for the Rig with Section 179.I would have development equipment onboard and dedicate a portion of the space to developmentI could put the companies logo on the side as advertisementGiven this, what tax strategies are actually practical?

Think it is the concrete walls top, sides and bottom. 

Then on the opposite side, what could you sell it for and how much cash would you get at closing? 

If it's on the higher side you may want to consider it for mid-term or long term rental, but if most stays are below 30 it can be viable for short-term! 

After some investments in amenities (primarily hot tubs), our last 3 months have averaged 12k/m.This property is owned outright, and due to the size of the property, the small square footage of the units, and the lack of comps in the area we have found it difficult to lock down any refinancing.