Preferably outdated, 80% vacant, garden style(not mandatory but preferred).

It’s the only way to achieve the returns that attract capital.The only reason 4% cap rates make any sense at all is because in some markets rents are climbing 20% or more in a year.  

This strategy has been more profitable than my past HGTV-style rehabs because it saves money on labor, materials and holding costs.

AIR allows a host to rent anything that has a bed, and that's not my style.....they also tend to attract a lesser 'quality' of host and guest I've found.

I'm not a turn-key provider, but I can help you source turn-key style properties. 

I am looking for some help to put them in order for the best areas to achieve my goal.

Torrance is a fairly high-priced area in California.She rented the condo (more of a townhouse style) to about 12 Japanese college students.

@Michael McCallaYou need to accomplish the following steps.1) Create LLC entity (you can consult with an attorney, do it through the help of a website or do it yourself)2) Create an operating agreement(especially if there is more than one owner I.E. wife) - consult an attorney to draft this3) Transfer title from your personal name to the LLC(work with an attorney or a title company to achieve this)4) The LLC will have to file a partnership return on an annual basis so you will need to consult with a CPA.Good luck!

I do also get young bucks with NYC style accents being pushy on the phone, but I won't give them the time of day due to their pushiness. 

While being free and clear on a property, you have to make a devision what’s more important to you to achieve your long term strategy.