According to AirDna, Fennville, MI, Grand Rapids, MI, and Wisconsin Dells seem like good choices.

I understand that, but if you keep it as a primary residence and do some sort of house hacking deal where you rent out rooms, can you get passed that?

You can rent out to individuals, per room and not be a boarding house. 

Vegas is great for rent-by-the-room style house hacks and MTRs. 

@Amber WelschWe financed a project where the borrower retrofitted a property with two very large (8,000 square feet each) houses in a exurban area into luxury room rental, each with a large bedroom and attached private living room.

In most markets that's closer to "A" room paint with trip charges.

The game might be slightly different in some areas where there aren't as many 2-4 unit buildings, but there are always strategies like room share, renting out the basement/attic, air bnb, etc.

The better ones seem to have a dorm room structure of cleaning and caring for the units with chore assignments.

Just a friendly recommendation: I would remove the wicker chairs in the living room.

BP family, I am a new investor in the Grand Forks North Dakota area and am wondering what type of rates to expect and or offer when looking to gain Private money.