We have sold a couple that have successful tenant placements.

I kept my first house as a rental after I moved out and bought a new residence. 

A STR is both a business and a real estate investment.Having little oversight on a newly formed business would make me anxious also.As others have suggested, you should consider going to the area for the initial items(Purchase, renovation, etc).Once you buy 1-2 properties, you can look to unload these items to someone else.Best of luck

A and B areas in L.A. will be very expensive to buy in.

@Chris Rendall couple comments,@Wayne Brooks is correct if it was a Homeowners policy now being transfer to an LLC and used as a rental. 

Yeah they run a bunch of meetups in the area and Andrew and Jon Bombaci (also a guest) do a great job and are easy to talk to.

Is this a bank-owned property on the MLS or is this from a wholesaler?

Now you need a loan for $720k.

In real estate, the biggest hurdles are often the ones you least expect—and sometimes, they’re as small as a crystal doorknob.Back in 2019, a simple set of crystal doorknobs nearly cost us a $25,000 deal on a home on Burgess Street.

If you have a 6 bedroom in an area that does not have a university (students looking for shared space) or is in a family friendly place it may sit vacant longer between tenants.For Capex, try not to use a generic number - look at the roof, furnace, hot water tank, kitchen - when will each need to be done and what will it cost?