I'd also say don't overlook Anna Marie Island. 

That's exactly what I do here in Michigan.

It's in Grand Rapids, MI for reference.

It could be heat in the winter(in Michigan) or AC in the summer (imagine them running AC at 70 degrees all summer in Phoenix) or just general disregard for leaving lights on and things like that.

If the interest rates come down, I can transfer the property back to my personal name, refinance, and then transfer the property again to an LLC or trust.Second and most important thing, I would like to get an idea of what type of property to purchase that best suits for STR in Chicago area , near by states like WI or MI also I am fine as long as it is closed to Chicago. 

Thank you @Joe Homs and @Greg M. I

I’m also an agent in IL IN MI if you need any comps or help.   

https://www.freep.com/story/news/local/michigan/detroit/2024...

, Indy, Michigan - Ann Arbor area?).

Quote from @Mary Joe: As long as you have justification and you apply the standard equally to all applicants, you should be fine. 1.