Unless you make the theme of the house around that famous person, I dont think consumers will pay a market premium on ADR to stay. 

“Depreciation” is a wonderful tax benefit over the course of 27.5 years, but unfortunately, it isn’t a tax break per se, merely a deferment. 

Highly recommend partnering with a local realtor who knows the market. 

The only two ways to rectify this are (1) purchase the property far below market price or (2) significantly increase the property net income usually through some method of “repositioning”. 

Purchasing a fully furnished 3-bedroom home minutes from a large hospital and a SUNY University.Whom (at the hospital) would I contact to determine if there is a market for mid term rentals.

You may qualify based on Market Rents or Lease Agreement.

@Shane Regnier I've flipped a bunch of houses in Ocala but have yet to dabble in the rental market. 

I'm eager to grow my book of business in various markets and connect with active wholesalers.

I’d love to hear your experiences, especially if there were unexpected benefits or challenges.Looking forward to your insights! 

Quote from @Joshua Piche: Your market is tough, but it's not impossible.