I've been interested in that as well.I think best way to start would be to find an agent down there who knows the AirBnb business model and can help find properties that would make sense. 

There are no complicated models to build out.

For anyone interested, here is a 3D model I shoot when the remodeling is in progress:https://my.matterport.com/show/?

For personal reasons we ultimately decided not to pursue this business model, but now we have this property.  

I would assume little to no appreciation over next five years so I would model it and see where it plays out

Currently, I'm moving to self storage because I like the business model and can see myself running these when I quit my W2 job (software sales) here shortly. 

This is the exact reason why I switched to the Build 2 Rent model, and most of my investors are following.

You do have to furnish the homes and stay there "some" of the year, but after the 1st year you could convert into long term rental or SRO (Single Room Occupancy or PadSplit model). 

When you model that out it's a loser usually UNLESS dirt is incredible and you want them to leave to knock the building down and redevelop at much higher rents.

I believe there are too many variables for that kind of model to work.