If I advertise an entire apartment complex and wanted to keep my ad indefinitely I pay a certain amount. 

I have been to fair housing seminars to get certified in order to be a vendor at many apartment complexes locally.

We are looking into buying another STR in FL on the beach at this complex.

Jon, glancing on your comments, I'm concerned that you remain unclear about this very complex area of the tax law.

Hope I can pick your brain some more.I was looking at a studio condo - really cute and well furnished and nice complex but was wondering about these issues1.

Out of curiosity did the QT gas station next door play a factor when deciding to purchase this complex? 

@Brian Reynolds - No experience with new construction here, but I have seen rents much higher for newer complexes. 

First thought would be to do the BRRRR strategy or build a Fix and Flip business and invest the proceeds in building a SFR portfolio.You can definitely go ahead and purchase an apartment complex of $2MM, use third party property management and be somewhat active doing the asset management and making sure the business plan is accomplished.And then if you want to go totally passive and get "mail money" you have REITS, Syndications, and some other strategies that will each be a good option for you or not, depending on your return expectations, risk tolerance, etc.I used to own 4 SFRs and made the transition to large commercial multifamily.

If you are looking for those larger complexes, your competing with the out of state big buyers that don’t have a problem competing for a property.

I have properties in Jacksonville and love the area, but I want to start looking at emerging markets and purchasing apartment complexes in those areas.