Just remember you are spending time and money to improve a space that isn't yours and you're not able to take the improvements when you leave, ownership should have some skin in the game especially in a new build.   

Concern: LA’s landlord laws, headaches from self managing, a good deal may still have tenants occupying it, if I ever leave it's an alligator so it costs more than the income it makes3️⃣ Out-of-State Rental – Get skin in the game sooner by buying a cash-flowing property elsewhere.

To play devil's advocate (and keep in mind I have no skin in this since I'm in a different market):-You want to tailor to investors, then be prepared to sell at an investor price. 

Obviously it is always a good idea to respect folks time, but find someone who also has skin in the game, investing where you are investing, can talk about their experiences, and also has built a network of folks who can support you after the transaction as well. 

@Kyle DeboerEveryone is going to want to see some skin in the game.

Even with HMLs, they would either want to see reserves, or you would still need to put in a little 'skin' into the game to make the deal workGood luck!

Quote from @Michael Baum: Hey @David Rutledge, the purchase of a small hotel is a very different animal than SFHs for STRs.Like @Luke Carl said, you will have to have some significant skin in the game.

Some/many lenders don't like a 2nd mortgage behind their first (like the skin in the game), however there are both bridge or permanent financing options out there allowing you to leverage anywhere from 90% CLTV - 100% CLTV, but don't expect good terms...

You can go to a CU or local bank but they want a wad a cash from you for skin in the game and your going to have a rough interest rate. 

Which they have no skin in the game (Technically).