I think in most markets this approach maximizes return but can be a bit labor intensive. 

Just be the absolute best host you can be for the first year -- communicate clearly and quickly, make sure cleaning is top-notch, make sure all amenities work (hot tub is hot, TV remotes have batteries, etc. etc.)

I analyze intensely the ARV price points in my target markets for at least 9 months before I buy. 

Timing is key—catch a hot market or a great 1031 exchange opportunity.

Winter's are cold and summers are hot in northern Cali. 

Turned a single family house that was poorly marketed but in a great area of my city, listed mid-winter where there's less competition, into a duplex for all intensive purposes and used airbnb to rent out rooms.

In my experience, a suit for specific enforcement of a real estate purchase contract is not particularly complex or fact intensive that would lead to extensive time needed for discovery. 

I get the dreamers wanting to pay to get into development and I can see in some markets this would work were its not so intense to develop but in other markets ( and I am sure the Guru just takes your money and does not get into  market specifics) 99% of the folks buying this will never do  anything with it.. it takes decades to figure this out or U need to be with a BIG firm that has millions upon millions behind them..

I'm sure most of us don't say our rentals come with a furnace and hot water tank, but they do and they are not to be removed.

I received immediate, good response to my marketing on Zillow, Trulia, and Hot Pads.