You mentioned that you've been paying water / sewer for all 4 units. 

What type of MEP work are you putting into the design for getting the sewer, water, power, and internet (assuming you're not extending gas) to the inside of the building? 

The problem is the waters are muddied when a negative occurs with the investment that is in no way the result of dishonesty or incompetence; it’s merely the revealing of the probability of an outcome that has been properly disclosed as a possibility - yet the unsophisticated investor begins crying Ponzi scheme, theft, incompetence and every other accusation they can think of rather than considering the possibility that they made an investor with higher risk than a money market fund. 

Other items, such as football equipment from the kids’ league, were destroyed in the flooding, he said.More leaks have come from the plumbing between his first and second floors, prompting him to leave his light fixtures hanging unmounted from their wires so they don’t fill with water, he said.Clusters of dead insects cling to one section of his ceiling.

under mount granite or quartz counter tops.. water closet  heated floors ..

No extra fees added for repairs, I'm allowed to contract my own people via the PM to do services(HVAC, lawn, water heater, etc.)

By improvements I mean that there is power, water and sewer/septic installed and working.

Lot rent is $365 and includes water.

It also has the benefit of being local which is great training wheels as you learn how to be a killer host.Now assuming that you mostly want a cool property to stay in sometimes near water and don't want to spend a ton of time managing I really like the outer banks in NC.

ON the more risk type product we do land speculation and Land entitlements but the returns blow most any cash flow at the the same dollar amount out of the water..