WE did a nice flip last may though in Winter Park that was a good one.

So that rules out areas like City Heights / Skyline / etc.4) Parking - make sure you scope out the parking situation before you buy.

One friend of mine had a client who recently tried running an Airbnb in a little Craftsman duplex near North Park.

The DSCR program "Must use the lesser of the two either common rent from the appraiser 1007 rent schedule form on the appraisal or the lease".You also have to factor in the taxes and insurance because a guesstimate or ball park can kill the approval. 

Vacation rentals are usually much nicer, are close proximity to attractions (beach, mountains, lake, theme park etc) and have nicer or more ammenities.

.: Quote from @Jon Parks: How in the world is anyone being optimistic about this situation? 

In my devious mind, I thinking like you that I hire a parking attendant, install gates and charge an entrance fee if I bought it. 

The odors are not always easy to eliminate within the normal apartment turnover routine.

So picture this @Kevin Rodriguez, someone strolls up to you in grocery store parking lot and says "Hi, nice to meet you.

If you are in a good park it might work but your other issue is that many are over 55 communities.