It's a different animal, and you need to intimately understand your specific market dynamics.  

To my shame, I have not read it, but @Brandon Turner has written a book on strategies for funding real estate investment:http://get.biggerpockets.com/nomoneydown/I read "Nothing Down for the 2000s: Dynamic New Wealth Strategies in Real Estate" by Robert Allen and would recommend it as well.

It is disconnected from the South Florida labor market and I find there is a different dynamic here.

It is not more profitable, it is only that the owners do not understand the dynamic pricing and automation and  being listed on all the booking websites and a good property management system.

So as my $100k property I purchased 8-10 years ago became a $400k property, rents couldn’t keep up without breaking that dynamic. 

While I have significant experience on the debt side of multifamily real estate, I don't have a lot of experience on the dynamics of syndicating equity.

But the fact that this is actually a part of your residence and not even a truly separate unit on the property changes the dynamic.

I see so many new investors even in my small area and am glad I have been buying for a long time, not just beginning.There are definitely still some positive market dynamics today as @Nick Brogren mentions.  

Hey @Adam SherrittI think @David Faulkner did a great job explaining the market dynamics for multi-units in areas like Carlsbad.

We use a dynamic pricing tool called Wheelhouse to price each nightly rate to be competitive throughout the year.