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. 

The markets investors like you want to live in and invest in are often two totally different places, so don't limit yourself yo a single plan. 

Security investigated to find the renters still at our house.

When I started, I  submitted great deals to a corporate cash buyer,  they went behind my back and secure the deals with the sellers, after the  contracts expired.

Add that to the $1.2M and we get a total ask of $4.7M.The $400,000 in earnings could not support that debt service and he was unwilling to lease the real estate to the new buyer. 

For any of these real estate funds that have guaranteed rates of returns for set periods I would want to understand how my investment is secured.

Current rents are at $900 each unit =1800 once we refinance to a mortgage the mortgage will be from 2400-2500 total.

If someone had gotten hurt and sued for $1mm then these coverages would have kicked in.Having been thru the claim process on a total loss.

@Justin FondrenIf your credit score is in the 700–730 range, you're in a great position to secure favorable loan terms.

just staying totally away from politics, state laws, etc. for a second - just forget that, as that is not my point and that is not why i'm bringing it up - BLUF: Texas is building houses for people to live in, and CT isn't.