@Samuel Gardener If you invest in an index fund you will have dividends that will be taxed with no depreciation offset (Also management fees). 

I have been presented with an opportunity to invest in 2 syndications: 1) a 500 unit Garden Style (advertised as Class B) apartment community located in the Peachtree Corners neighborhood (around Hwy 140 and 141) of Norcross Georgia and 2) a 200 unit (what looks to be Class C) apartment community at Hillandale Drive near I-10 in Lithonia, GA 30058.

They think their flips need to look like they've been featured in a Home and Garden magazine.

Thanks for catching my error.The property is in Houston, just inside the loop in Shady Acres near the rapidly appreciating Garden Oaks/Oak Forrest area.

I am seeking garden style or low rise units. 

It's like a blackhole - once it's starts it's nearly impossible for these places to reverse the trends - a few places in KS have gotten better - Dodge City, Garden City, Hays - they hang on and are relatively "progressive" (I use that term loosely) compared to their other rural neighboring cities) and have found a way to survive and somewhat thrive in today's society.  

Innovative shed décor can turn the old gardening shed into a haven of tranquility for mom or a gaming studio for those noisy teens.SummaryBy choice or lack there of, many more people are living in smaller spaces and will continue to for the next few years.

I realized that most of the buildings I've looked at have garden/basement/in-law units (so below ground).

They dump motor oil in your garden, what do you do?

@Dayne WintersHoboken (preferably Downtown),Jersey City (Anywhere off the "PATH" Train, note the Waterfront, Downtown, and Newport are nicer than Journal Square)Manhattan (anywhere really but the nicest areas are anywhere south of about 70th street)Queens (Long island city, or Astoria near a subway stop)Brooklyn (Downtown, Heights, Carroll Gardens, Park slope, Williamsburg, there are others but that's just the short list)Since your question is a bit limited I am unsure if this is business or vacation and if it is with children or without.