Whether you’re renting or selling, you don’t need perfection—just enough to make someone excited to move in.Hope that helps, and good luck getting this one filled!

You can accelerate your goals if you have someone that you trust that you could partner with.Good luck on your real estate journey bro!

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. 

I'm surprised someone verbally told you you can convert back to a duplex and didn't tell you that you must get permits.from what you are describing it seems the town gave you a hard time because you didn't get permits, I don't know that you have any legal standing to go after the town,  again, I am not an attorney 

There's no reason to provide details, though I do let people know if anyone asks that we do not accept bulk up-front rent payments or anything like that because I absolutely do not want a prospective tenant to think that someone else swooped in with a bunch of cash last minute.

You have to know your state landlord-tenant laws; they are on the internet:"In New Jersey, a landlord may need to give a 30-day notice to pay rent before eviction if the tenant has a history of late payments and the landlord accepts them.

@Brandon Morgan, nice to see someone from the same market here!

Consider:1. investing time in finding a local landlord mentor--someone whose been doing it for years.

Work with a tax professional (preferably a CPA that does tax planning and not someone at H&R Block or TurboTax) to ensure you qualify.

This for us is preferred over seller financed deals as we can do 65% LTV, 800 credit with someone who has net work 2x+ loan and get double digit rates. 3.