Some things that make a rental appealing 1 - pet policy (pets or no pets allowed)2 - number of full bathrooms 3 - number of floors (single level vs multi)4 - backyard or lack thereof5 - school ratings (higher the better)6 - crime ratings (lower the better)7 - location to highways8 - amenities (parks, pools, trails, lakes, etc)9 - location to place of employment.10 - age of the property 11 - appliances Just to name a few.

As the local governments struggle to manage tax payer money responsibly, they should really offer incentives to private builders to build "income restricted" at a much lower price. $220-$300/ft for vertical build costs.  

For example, downtown columbus has this market report https://www.redfin.com/zipcode/43215/housing-marketThe average housing unit sells for $350k, we try to deliver housing units at this price or lower on the new construction side. if you are above this your buyer pool gets smaller. look at each zip code by it's own markets and stats. 

Foreclosure is expensive and time-consuming, so most lenders won't even begin the process of foreclosure until payments are 4-6 months behind.In a non-judicial foreclosure state like Georgia, the four weeks of public notices are all the advanced notice you're gonna get as an investor!

After expenses the property makes around 7k-10k depending on occupancy, which would be split two ways.

You'd continue to report your rental income and expenses on Schedule E and have the added expense of renewing the LLC each year. 

If it is an investment property, you can deduct taxes, insurance and expenses for maintenance, etc.  

We converted the upper story of the 3 car garage to a 2/2 and a part of the lower level to a studio. 

On the flip side of that, someone else is lowering your cost of housing, it's a mutually beneficial situation.  

I can house hack once and subsidize my living expenses.