Not to mention, if you make it nice then some of the people with housing vouchers/subsidies are attracted as well. 2.

@Al BigleyWelcome to BP and the wonderful world of landlording :)What type of tenants are you trying to attract?  

Hi Bryan,While I'm not the most qualified person to dispense any advice, I do own a number of apartment buildings, including a 12 unit, and I often wonder just like you where it's best to spend money to attract good residents.

Florida definitely attracts this kind of corruption....

@Sudheer Bobba If you want to title the loan directly to LLC, your options are a residential portfolio (30 yr fixed) or a commercial loan (5-7 yr ARM or balloon).Rates/points in both cash are not as attractive as Fannie/Freddie.

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.