Screen shot below has La Quinta, centered on Point Happy area.

Look for areas with low vacancy rates, good schools, and proximity to amenities like shopping centers, parks, and public transportation.

@Luke J Nelsen - Personally, we do them in Anchorage and Wasilla - the two biggest population centers.

Tesla is building a semi truck factory and multiple data centers are bringing high paying jobs and diversifying the economy.  

Outside of that my mind went to a ground lease option if you could find an end user looking for that kind of deal, or potentially a build to suit for a brewery/pub type location that has a "draw" to it and does not rely so much on being near an anchored center.  

Its in Palms at the Iman Center

You don’t necessarily need to be local but there are also misconceptions and rules to follow:https://www.biggerpockets.com/forums/530/topics/1056436-clearing-up-confusion-on-tax-treatment-of-short-term-rentals

We just sold a retail/service center we owned utilizing a wrap around mortgage.  

@Kristin Vegas - If you are buying in Chicago proper, be sure to become familiar with the landlord tenant ordinance which is specific to the city. https://www.chicago.gov/city/en/depts/doh/provdrs/landlords/...There is a good stock of multifamily housing just west of the city if you are looking for a more suburban feel with better schools and policing while still being able to get to the Chicago city center within 15-20 minutes. 

The assets purchased would be considered "placed in service" in tax year 2024 and would therefore be able to be expensed/capitalized as applicable depending on the treatment of the assets.