It Depends.Potentially capital investments in the properties could have accelerated depreciation benefits (carpet, LVT, trim, appliances), while also allowing you to drive higher rents, thus saving on some taxes in the short run while driving increased values. 

Paid market value however the property is under performing.

Only 16 days in have all but two units filled facebook market place is so powerful in a small town!

Real estate investments, when managed wisely, can provide a steady income stream through rental properties, potential tax advantages, and the possibility of significant appreciation in value.To maximize your success, it's essential to conduct thorough research, understand the local market, and seek advice from experienced professionals.

Are you focusing on your local market in San Francisco, or are you considering out-of-state opportunities?

From what I can find, the last market valuation of this property was ~650k.

I do not know anything about the Greenville market.  

He has talked up the tax benefits that I could take advantage of by making such an investment. 

I would first find a market that is showing signs of market growth.

I am trying to learn hands on skills so that I can buy properties that may need some TLC given how hot the market is here in Raleigh.