By no means cheap but solid rent + demand, fun place to live, decent inventory (relatively speaking), and is still commutable to the city. 

A revocable living trust is another option for privacy and asset protection.Avoid gifting the property before death, as this would pass the original purchase price as the cost basis, creating a large capital gains tax liability upon sale.If the property is Subject A’s homestead, ensure the correct titling to maintain Florida’s homestead protection for Subject B.This post does not create a CPA-Client relationship.

Everyone has their own room and a bathroom and they share common space such as living room, dining room and a kitchen and they are one the same lease.

I think new builds don't really work from an ROI standpoint, but if you can find properties that have easy ADU conversions then the value might be there.I'm in MA and we just made ADUs legal by right, so I'm looking into the best ways to add value using them.

What is the service life on this piece of equipment.If it has capacitors the service life could be 10 years, or they may have a service life of more than that, but they don't live forever (what about repairs?).

I have improved fair rental value and value by increasing the kitchen size; adding an island tearing down walls between the kitchen and dining area and living area, etc.It all depends on the particular property. 

@Dexter Florendo Kalai AspacioBuy in the right location where people want to live and rents will continually increase.

@Chris Seveney  I live in Abilene and operate a short term rental here.

My husband family have lived in Oahu for several generations now.

Quote from @Ben Trageser: If you live in your short-term rental (STR) property in a future year after claiming depreciation, depreciation recapture does not occur immediately.