It's possible to make money owning condos but it's a gamble.

So basically it would become a gamble that they pay rather than an investment backed by good collateral.

I only list it on Airbnb (where I get about 85% of my business) and VRBO/HomeAway and have been happy with both.I'm so thrilled with my success, that in about 3 months, I'm moving to the town where my rental is (from Houston to FL), buying a primary residence there (already under contract), and buying more rental property to build my portfolio since I can afford to do it in FL but not in TX.  

It seems taking a gamble on a property that's not even yours seems to be a high risk financially.http://www.biggerpockets.com/forums/12/topics/380162-went-bankrupt-trying-to-wholesale-heres-my-sage-advice

:)  Great words of wisdom, @Sandra N. ... thrilled to see fellow wholesaling ladies on BP!

I am very excited about starting a fix-and-flip business but I must be honest, my husband is rather conservative and isn't thrilled with the risk I want to take.  

Are you against casinos, because some people get addicted to gambling?

REI is like playing poker (not because it's gambling).  

The message I took from this was, only gamble what you can afford to lose and only do it if that loss doesn't change your lifestyle or standard of living.

Hopefully, the gamble will pay off.Where and what you buy will make a huge difference in terms of what you need to do to get an STR permit, how long you'll wait for other permits if you are building or remodeling, what the STR rules and restrictions are (none of the jurisdictions are onerous, but there are differences between 29, YV, and the county), and so forth.