This is our boilerplate language:Insurance: Tenant should obtain a renters’ policy of insurance on their personal property.

Also, long term, I expect Sac will enact tougher restrictions on STR, given the intense housing crunch we're experience, so I personally don't expect that to a be a good long term strategy.

Balance data with personal priorities.

But I don't know your personal situation and all the financial details. 

CA has more than half of the nations homeless/unsheltered persons. 

A FHA 203k Loan is where the purchase price and rehab costs are rolled into a single loan.The downside of using FHA or a FHA 203k is you will need to live there, for a minimum of one year (to satisfy FHA Requirements); AND because you closed personally, you will not have Asset Protection, in the form of closing in the name of a LLC.

@Lauren MerendinoI strongly believe that your chosen market should be somewhere that you can go to in person / have strong personal knowledge of / have family or a network in already.  

You need to make sure you're working with someone whose sending you personalized deal flow that actually meets your buying criteria.

We are now at 21 doors under management and 3 are personal units that we self manage.

I would imagine Long Beach is complicated to get into the STR game but I don't personally invest there so not sure.