That is what attracted me but at the same time I want higher return than 10% on my investment.

I think in general areas with low property values do tend to attract lower income residents and it may over index on lower credit residents as well.

You may also be able to attract weekly or weekend rentals to a place like Ithaca (AirBnB, etc.).

A park this small is not going to attract a lot of investors.

Consider factors like proximity to the beach, local attractions, and any upcoming developments that could impact demand.5.

@Steve Babiak  pretty well covered above and the reason when I did my second HML venture I only used bank LOC's and no private investors... lots of work keeping everyone happy and answering all these type of questions.However for brokers who work in this manner IE with the individual or pooled investors going through this initial pain of attracting investors, once you have them and you and the loans you source perform you can build a client base that will last for literally decades..

I think this is especially true up front where I want to be very clear about fees and NOT have the surprises later, I think PM co's get in trouble with attracting clients with low %'s and then have to make up for it with these mystery fees later.  

Interesting spin is that nice college towns also attract retirees who like lifestyle and access to arts, culture, speakers, etc.

A big attraction of short term vacation rentals is the option to stay in a unique space like an airstream, a treehouse, a boat, etc. next to location, the kitsch factor is a huge selling point.  

I've seen concrete floors stained and polished in commercial properties and heard of some people doing that to the slabs of their homes, but every example I have seen were dark and probably not attractive for every home, especially smaller ones without a lot of natural light.