I sold a mobile home giving Owner Financing (OF) (never again will I offer OF).  The buyer had the mobile home demolished.  Crazy I know.  She is now in arrears 3 months and has agreed to deed the land back to me and ...

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. 

Check out this podcast from BP, with Dave Meyer and Chris Clothier from Nov.we work with clients all the time in your situation and can help strategize your portfolio to reach your 10-15 year goals!

The most effective way to find a professional team to work with is to interview a few to find one that can work with your situation.

Also, if your unit was not previously listed within the year at a specific rate, you may definitely be able to list your unit at what the market is currently.

What specifically are you looking for in terms of investing? 

Hi Shawn, I don't think the verbiage in a notice like this is state specific.

Fractional TICs give owners the financial independence that has been associated with condos, without the need to wait for a condo conversion, a process which can take anywhere from 2 to 10 years depending on the specific requirements for the subject property.

Consult you insurance broker for specifics but I found this policy to be very protective and reasonably priced.With regards to an umbrella policy they are typically good to have.  

Offering 50% of the cleaning fee for cancellations within 48 hours seems like a fair middle ground.You might want to set up a clear policy with her going forward so everyone’s on the same page for situations like this.