Don't just buy cheap houses in the city, though.

Selling comps in the neighborhood are $215-$235kThere are very few properties that are cheap these days.

For instance, if you buy a cheap hot tub it will probably pay for itself if you get one or two bookings that you wouldn't have gotten otherwise and it will lead guests to choose your place even if they are not really going to use it

Anyways 175k for a 4plex is very cheap.... cashflow is strong but when it's so cheap... it might be in a not very desirable neighborhood.

I Don't have much cash to work with, so I'm trying to figure out my options.  100% financing is a thing because lender want to take over your project/asset for cheap ; put it that way.

Don't get sucked in by the cheap huckster talk of owning a small slice of some multifamily project where you're not on the title and have no control.

If you go for more than 5 units you'll get into commercial lending so you'll be looking at 30% down or so and in LA for a commercial property that wont be cheap. 

Because it has become cheap to service a high volume of investors using technology, there are now more companies doing offerings with low minimums to non-accredited investors using these new regulations (like Cardone Capital, Fundrise, Realty Mogul, etc).What pool of capital is larger: the pool of accredited investor money (what is that, 1% of the general population) or the general public's?

Do not over improve but don't go too cheap when the area calls for higher finishes. 

It will almost definitely be more expensive and take longer than you anticipate, and those HMLs aren't cheap.