Rented the property with a professionally cleaned carpet.

This is located in the rental real estate publication by the IRS.

It's tough to swallow, but if it's not renting, it's likely as simple as the market won't bear the price you're asking.

( Regarding interior, and not HOA, management, location)Anyone has experience renting for snowbirds?

In suburban Chicago, historical significance or celebrity ties might create a niche appeal, but they won’t necessarily drive up the home’s market value in the same way as location, condition, and local comps.For a short-term rental, though, it could be a great marketing angle—especially if the person is well-known and has a strong local connection.

If so, do I need to hold it for a period of time before I can rent it out?

Lots of opportunity to increase rents!

They get a higher return since they are covering housing cost, have the $250k per spouse primary residence deduction in gains, is a savings account, higher leverage position, lower interest rate possible, will pay more premium for location, etc.House might be overpriced for REITs but not for home owners.  

If you are already under lease, candidly you are likely behind the 8 ball as they say, I am hoping you have at least some abated rent while you get the buildout done prior to opening and rent commencing?  

1) don’t forget, in LA you will have a VERY hard time raising rents more than 9% per year.