If the property is in a tourist-friendly area, you might have the option of turning these units into short-term rentals, which could improve the top-line income substantially. 

I thoguht about starting a forum about it.. but I noticed that @Brandon Turner is always recommending newbies to get started with multi-family, like.. a duplex or whatever, but.. here in Central Florida, they are far and few between, and believe me.. there are investors lined up for the ones that are available (and not available).. but, in regard to buy and hold strategies, Orlando specifically has several unique real estate qualities to it that make it different to almost all other cities.. primarily, (and this is still underrated I feel like) ..this is the top tourist destination on Planet Earth.. that alone is enough to create some interesting markets, and indeed there are.

A buddy bought a large victorian in a tourist area, she rents it 200 per night per bedroom great cashflow.

And Aug to Nov. is the hurricane season, less tourist and lower rents.

Some people are getting insurance bills 10K more than the previous year.A buddy of mine bought an old Victorian with a bunch of bedrooms in a tourist area.

I know they are more tourist destinations and I'm open to wherever makes sense.

I'm curious if our Ukiah natives (and others) think there is a possibility for a boom in our tourist industry with legalization?

Also, does anyone out there have any experience in Mexican real estate market, other than buying condos or properties in beaches/tourist areas?

Proximity to downtown, airport, or tourist destinations, as well as aesthetic appeal factor largely into my considerations.

.- Boutique Hotels (Gulf Coast tourist towns or in popular/historic neighborhoods such as New Orleans Garden District)- Convert older buildings into luxury apts (Happening in downtown Houston!)