Too many investors chasing too few properties.  90% of the deals I work on are off-market and have no major competition. 

The downside to Hollywood being Airbnb-friendly is that Airbnb investors have flocked there so you have a lot of competition.

I also have to mentioned that the biggest advantage of using AI is for internal company usage, especially in a companies where it has multiple product, multiple supplier , or producing very competitive product ; company like home depot , medical device or even Adobe, can really make killing productivity by leveraging AI.For people in tech, the ability of AI to generate a code , a database or to articulate complex system , is very valuable.I have been moving from search engine to AI too in last few months and result was great.

Conduct market research to gauge demand and competition in the area.Hidden Deferred Maintenance: Concealed maintenance issues, such as structural problems or outdated infrastructure, can escalate costs and disrupt operations after purchase.

I agree with @Wyatt Wolff that if you systemize it you could run it yourself but getting that in place with a 70 hour per week job could be tough and not worth the added stress if you're able to pay a PM to do it and still make a good profit.It seems like you have but definitely would check out Furnished Finder and Airbnb/VRBO for 30+ days stays to see the competition/average pricing,

What is your competitive advantage over seasoned and experienced operators?

Living & investing in Southern California forced me to learn creative strategies in both marketing & acquisition to competitive.

Assuming less competition, I believe I could secure the property at a lower price by participating in the second mortgage auction.

Our market is very competitive, does not matter if you want to rent or buy, quality properties are in huge demand (yes you can have a property in the inner city hood nobody wants..). 

I've heard renting 3 bedrooms is a very crowded market so thats why im looking to do the smaller 1-2 bedroom options Im concerned about all the competitions and the somewhat transient nature of the city.