Without knowing your budget, what you consider safe\risk tolerance, how far you are willing to travel, asset type, your level of living expectations, lifestyle, local neighborhood expectations, the tenants\roommates you want to attract, and other criteria, it's hard to recommend an area.Your Class A, B, or C asset type class expectations versus another's view maybe totally different.  

Unless we can add value to the property in order to increase the rental income the returns are not attractive to us.Besides the one deal this year, not sure if we will do more this year or not.

In short, there isn't an option attractive enough to offset the loss of the depreciation write-off.

If you attract an experienced investor, they probably don't need your help, but the offer will set you apart.

It sounds like you would probably have to do major updating to get it attractive to someone like that though, and that’s a lot of rooms and event space to fill without a strong network to fill the pipeline, assuming the local demographics even support that kind of need.

Pros: can attract more guests.Cons: can attract more guests (sometimes of the type you don't want).

If it is a higher end rental like Gabriel said then you may want to go with something nicer to attract the tenants to the higher rent.

It seems to me from the 120 number, it's not very attractive.

Recently however, investments in industrial parks have opened up thousands of jobs that attract people from the neighboring counties and  prices are growing by the month.

It is written into all of our Leases that we will be doing quarterly (sometimes monthly) inspections.Our managers go around with a list to make sure smoke/carbon detectors are working, fire extinguishers are filled and the place is not potentially attracting vermin.We will also make a note of any damage or take pictures of potential Lease violations (smoking in the house, pets, more beds than occupants allowed, etc).