The initial challenge is finding units that have the right rents to make it considerable.The closer to Universal or Ventura Blvd, which is the Valley’s version of the Sunset strip, the higher the rents.

I've been reading up on it - fully aware how challenging it can be to get financing, finding inventory and all the management involved but also intrigued by the cashflow if the deal is good. 

Use some of the available tools out there to run high level analysis and then once you have a short list you can start engaging property managers, do more manual research on the existing booking platforms and/or pay for more expensive data to fine tune your analysis.Best of luck!

If you are seeking conventional lending, you are self-employed and you have W-2 income in any fiscal year, and if you stop working for any agency or company where you earned W-2 income, you will have a more challenging time getting loans.

@Greg Grant Numbers look good, but sounds like you could be in for some major challenges in the tenant and property management department, EVEN if you hire a PM. 

I see the challenge is if you wholesale it and seller wants money upfront and the buyer is going to cash out the seller.

The next big challenge would be for me to start doing.

Challenges?

Challenges?

Challenges?