There is an incredible amount of points to consider when weighing the options on something like this and honestly, I don't recommend it to very many people at all ....even seasoned tradesmen and investors.

Many, many people have made huge fortunes on SFR's alone.Speak extensively with anyone who invests in RE and do everything you can to pull out why you *shouldn't* do something.

Ineffective or Absent Conflict Resolution ProcessEvery successful group of people needs an effective conflict resolution process characterized by:simplicity to understand and remember;quickness to start and complete;a clear vocabulary.My company, Livingsmith uses and recommends the 5-on-5 Process for conflict resolution in co-living homes.2.

Such a solid investment for any SoCal people looking for some cheap cash flow.

Steady pay, you can learn how to manage property and deal with people, and you'll be licensed to handle sales on the side.

Quote from @Andrew Steffens: There are probably more experienced people on this type strategy who will hopefully chime in. 

I get a lot of applications from out-of-area people, typically moving from another state.

I never was able to coordinate a consistent quarterly meeting for planning, I never knew who to contact because they have multiple levels of their workers and people were constantly moving in and out of the organization.  

I would closely monitor your competitions pricing to see what is working for them.Vrbo has built in tools to monitor when people are searching for specific dates.

The loft is very successful on Airbnb and people love the main house for long term rental.