Over the past 5 years, we've renewed, updated, and remodeled the building to attract better quality tenants (we have 5 residential units upstairs and another commercial unit).

I Am attracted to low crime areas, better schools, and newer construction if you are looking for a low involvement investment, especially for a first property.

The ability to leverage your 100k over multiple projects makes it more attractive for additional RE income and also long-term appreciation.

No one abuses them/has friends over to do laundry like a free w/d would attract.

The property will be obvious more attractive without additional fee charged to tenants.

As for rentals, speaking in generalities, the apartments and rentals will attract a better tenant in my experience, the schools tend to rank higher, but prices in general are higher as well.

And my personal opinion is that the central part of the state will remain more attractive even though our hurricanes do still pass through because when those suckers hit the central spine they act more like regular bad weather in the North.  

The deal seems pretty attractive, and the seller appears very motivated to make a sale.  

Bad tenants will attract bad tenants or scare good tenants away.

Agree with a lot of what @David Thompson shared about syndications.Jack, I view large multi-family apartment investing as very attractive area especially for folks that want to invest w/experts that do value add investing for a living and you can help fund the acquisition and share in the profits.