The section 8 tenants I've managed have been easy to work with.

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

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. 

Cost segregation can be a complicated topic, but I tried to break it down and make it easy to understand!

Finding anything in the middle of COVID wasn't easy, it was the best I could find.

Owner occuppied loans regualted in every state .. must have state license and NMLS registration.NON owner occ loans on 1 to 4 units are regulated same way in about 15 statesin the other states they are unregulated.Keep in mind though investor loans do not follow the same rules as owner occ and rates can change charges can change closing dates can be blown through etc

I agree with Patricia, but there are always exceptions to every rule.

My last note would be to try to buy 3 or less replacement properties, it makes the exchange much easier and you avoid some additional rules.

Cost segregation can be a complicated topic, but I tried to make it simple and easy to understand!

Even in philly in D class area it is tough to hit the 1% rule.