This is now open to non-accredited investors (as well as accredited) for as little as $100. 

I think you should explore local and non-local CPAs before making a decision.

A few comments from my perspective (and after reading @Dan H. comments):I agree with Dan, and view this as a negative cash flow property as well, given that more than 20% down was necessary to make it work with what I suspect is a non-commercial 30 year note given the interest rate. 

Assume an FHA loan to non-occupy and use for rental real estate.... 

On-site lodging gives our venue a competitive advantage over others without lodging, and also provides us an income stream on non-event nights (by renting them on Airbnb/VRBO/direct).https://www.battengreen.com/

Quote from @Nathan Gesner: Unkempt lawns, trashy or broken down vehicles, mattresses and trash on empty lots, boarded up houses, bars on windows, dealers and hookers on the corners, the lack of stores or gas stations, occupied properties are dilapidated, etc.Or when Google maps shows stuff like this: Bro, take my front yard off the internet.

In other words, in the eyes of the IRS, the LLC would be non-existent. 

Our first accepted offer was a 320 unit deal that we contracted, put up non-refundable (yeah, I know) earnest money, and thought we had our financing and money in place to do the deal.  2 weeks before closing a major (several million) partner pulled out leaving us short of the funds needed to close. 

Hey ScottWe are primarily in the Tampa market and notice our larger homes that are non pool suffer as well. 

.: I recently did some data crunching on Zillow's public datasets.