But if you did the property up right with killer design and great amenities -- I'm picturing cool wallpaper, a game room, boho/modern furniture and a hot tub -- I can see a place here doing well as an affordable Airbnb/STR option just 10 minutes to downtown Denver.

@Jeremy Beland Well said!!!!

Quote from @Dustin Wilkes: Well hello there everyone.  

Well then could we have a example of defeasance, maybe such as a Bob and Ted story?

It has done well. 

Considering the area  I am not sure how this poster's LTRs are going, but I own 2 in the area and have helped multiple investors buy and then lease their LTRs in the Buda/Kyle area as well - all are cash flowing.

Average rents for a well maintained 2 bedroom apartment are easily $1000.  

We want to get a few rentals up and running and then (if all works well) begin bringing other friends/investors in to invest with us.

Its both asset protection , business planning as well working towards getting REPS status for tax purposes.

Well said!