Practically speaking, it’s going to be quite challenging unless you spend significant time.

@Jeff Hineswhatever you end up doing i'd stay local. i know the markets you mentioned look tempting, but they have their own challenges - for example, the midwest housing stock is very old and often has severe deferred maintenance. 

Challenges?

@Nate Jenks - @Andrew Postell did a great job clarifying the big challenge you'd run into pulling cash out with such a low down payment. 

Challenges?

Challenges?

What was your experience like—any challenges, advice, or things I should watch out for?

I can certainly handle the bookings and standard service things, but the challenge right now is finding a cleaner who isn’t so expensive. 

Challenges?

Learning the intricacies of Airbnb’s algorithms will be my next challenge, but I’m up for it!