I personally do not have experience managing rentals.

I do understand being selective on the type of buisness you take, but as an agent we still have a fiduciary duty to our clients to make sure they receive the level of service this price requires. 

I'm kind of a purist, but I'm hesitant to put in an all new floor (pull up the old ones, level the new wood flooring on the beams) because A) It's expensive B) it's a loud, big job and I have tenants on the floor below. 

Quote from @Polat Caglayan: 1500 sq ft and a mid-level renovation that complies with section 8 standards I would get a contractor out there 

Additionally, any existing restrictions at the town level (there are MANY) will be abolished, unless deemed "reasonable" by the state.

Who else has had to push through setbacks to get to the next level?

It’s when I realized that I need to get the lion’s share of my efforts, not pass them on to managers upon managers above me.

Does anyone have any referrals for property managers in the Los Angeles area who specialize/ have experience in mid term rentals? 

For financing, there are programs like FHA loans for first-time buyers, and there may be local or state-level programs offering incentives for affordable housing investments.

Quote from @Wale Lawal: @Paige GardnerYes, this strategy is possible, but it comes with risks that you need to manage carefully.