I'd be interested in owning a single family home in the area I am concentrated in just to see how that plays out one day.  

Price fair, don't get greedy, play the long game.

Also the strategy you are implementing plays a huge part with how to proceed. 

I can certainly see those scenarios playing out as they have many times in my experience. 

In that case it may be a situation that the owner may need to look at how the maintenace of the building comes into play!

Too many new syndicators think they can get away with skipping legal requirements—but the SEC isn’t playing around.If you’re raising capital, DO IT RIGHT:✅ Use a PPM & Subscription Agreement to protect yourself and your investors✅ Avoid general solicitation (unless using a verified 506(c) offering)✅ Understand accredited vs. non-accredited investor rules✅ File your Form D and comply with state laws🚨 Failing to follow these regulations could mean SEC fines, investor lawsuits, or worse.

New construction in a saturated market isn’t always the best play if you’re looking for steady returns.A place like Rochester has way better fundamentals—lower buy-in, strong rent-to-price ratios, and stable demand from universities, hospitals, and major employers.

It's unclear on how that plays into your question about taxes.

Paid a top local esigner to come have a look and all she did was insult our cute little place that was doing just fine.....But I think where a designer could add value is by suggesting unique areas, like game rooms, coffee bars, outdoor BBQ/play areas, and stuff like that. 

If I was starting from scratch, I would buy a duplex/triplex/quadplex, live in the crappiest unit and rent the others out.