We do live in a small rule area where properties are a little cheaper, but so far it’s been very difficult to find something that seems to pencil out.

Asking in the correct forum will get a better response.Read the RULES!

To guarantee compliance, also acquaint yourself with zoning rules and municipal restrictions.2.

I also prefer to screen the guests and set my own price/stay restrictions.

For example, places like Illinois and Oklahoma have specific rules requiring a real estate license for certain types of marketing.This specifically for flipping land using Transactional Funding.If you’ve done this before, what states have you found to be friendly toward this approach?

You can read the rules in the footer of every page.We are happy to have you here.

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

Looking for something with low acquisition cost, and meets or exceeds the 1% rule.  

And as long as they're current and not breaking rules in the lease, they can say rude things to me.But blasting loud music etc sounds past that.

Hey @Mike Nelson, never assume anything about STR rules and regs.Here is the STR rules for Oak Park - https://codelibrary.amlegal.com/codes/oakparkil/latest/oakpa...I would call the city and make sure it is legal for a specific property.Now regarding the famous person angle, sure it can add value to the property or as a STR, but for STR use, I would think you would need it to be in original condition with a lot of the furniture and knick-knacks that were owned by the famous person along with a bunch of photos etc featuring the famous person.If you buy a place that has been totally redone but was owned by someone famous but has no features or things that were theirs, then I don't see it being a draw.