What.does it entail?

It entails taking on more risk than long-term rentals but can be lucrative. 

You said "prior owner rehabbed it" - not sure what that entailed or means exactly. 

I applaud those who invest outside their areas because that entails more risks and they did it anyway.

I also own a fair amount of rentals and know the work it can entail to maintain attractive and comfortable living situations for tenants and not be an eyesore in the neighborhood.

What that would entail would be retail space, industrial and the most popular multi family consisting of 5 or more units.

I would say keep reading and studying until you are very familiar with what each strategy entails. 

That entails both time and cash (or cash/financing).

It also places certain responsibilities on the tenant screening company, but that's not germane to the discussion here.If you are demanding peoples personal information is there any reason why you should not be subject to the obligations and responsibilities entailed in data protection and privacy legislation.

I actually do help people to sell their properties, but thank you for telling me what my job entails.