Things are really heating up in Florida around this topic to...if the investors you know don't like to look for their own properties, than that's an issue...I would be reluctant to classify them as an investor.

Actually, 3 and one was about to become classified as blighted if they didn’t act to improve their property.

@Vince Mathis It's not about Schedule E or passive income, it's about being classified as a "trade or business" which owning an apartment complex almost certainly is.

The final regs officially defined a "Unit of Property" (UOP) which essentially intends to make it harder to classify expenses as repairs and rather classify expenses as capital improvements, of which the cost must be depreciated rather than fully deducted in the year incurred.

Also, for tax reporting purposes, a single-member LLC is classified as in individual person anyway, so not looked at any differently by the IRS.

I will second the craigslist post along with all of the others, in addition check out OFFER UP, it’s like craigslist, A classifieds site. 

You also need to make sure you use the second house enough for it to qualify as a personal vacation retreat.Go beyond these two holdings, and you'll find the tax treatment of real estate decidedly different.When you own rental property, the IRS classifies that as a passive investment.In general, the tax code views passive activities as those in which you do not, in the words of the IRS, "materially participate" in the investment.

Your hometown newspaper classified section - Look in the real estate wanted, real estate services and homes for sale sections.