If you're looking for cash flow (like the 1% rule) and amazing appreciation potential, I do recommend a market like Columbus Ohio. 

Asking in the correct forum will get a better response.Read the RULES!

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. 

Many people choose NOT to have this, because the administrator will then vet every investment you make to ensure you do not invalidate your IRA.Invalidating your IRA means that you've done a prohibited transaction and the entire account is then deemed as distributed to you.If you don't want checkbook control, then I recommend a plan administrator such as Equity Trust - www.trustetc.comIf you are sure that you're aware of all the rules around prohibited transactions and disqualified people (who you can and can't do business with), then a plan administrator like Sense Financial would be a good place to start talking.  

When you have studied your market properly you should be able to provide the answer of if single family or residential multifamily is better for cash flow. 1% rule was for a time when almost all deals were decent as a way to rule out the lessor deals and concentrate on the best deals.

Asking in the correct forum will get a better response.Read the RULES!

Quote from @Austin Ralls: Good evening BP Community, Can anyone shine some light on the rules and regulations on striking conversations with local pros and acquiring more PML to help fund deals? 

ADU zone expansion is not certain, and even then who knows what the rules will be (owner-occupied requirement, etc).

My last note would be to try to buy 3 or less replacement properties, it makes the exchange much easier and you avoid some additional rules.

I recently sold one I had on Seabrook Island because the club/regime/HOA were frequently changing the rules and making it harder to operate smoothly.