Unless you make the theme of the house around that famous person, I dont think consumers will pay a market premium on ADR to stay. 

My problem i is my market is super expensive if I stay in the nyc area and I don’t have the confidence since I don’t have any actual experience to invest out of state do you guys think paying off my mortgage would be more beneficial than looking for more rentals .

Southern Maine is a great market for long-term rentals, with strong demand in many areas.

My son currently lives in the townhouse b/c he is going to school and works in the area.Since he is young and starting out in life, I would like for him to only cover the basic costs (taxes, HOA, utilities) just enough for me to break even (I believe that will put him slightly little lower than market rent rates). 

You picked a great community to join.. have you checked out local comps to gauge the market vibe yet?

@Shane Regnier I've flipped a bunch of houses in Ocala but have yet to dabble in the rental market. 

But, the self-sufficiency test for FHA loans can be really difficult in SF, meaning that the market rent from units you will not occupy must be sufficient to pay for the mortgage payment. 

Networking with local wholesalers and real estate agents who specialize in investment properties can also lead to off-market opportunities.

I am not sure if I should stay local to my market.

Those that own it can be harder to sell as the cash flow from the business will cover the debt service for the business, but not for the real estate.Example: I had a very high-end assisted living facility on the market.