The units were rented near market levels, but could be increased with minimal difficulty.

EDIT Also helps to have an investor friendly agent, who’s an LA native and who is tapped in networks with off market leads. 

I am not sure how much money you have for a down payment or what type of loan you qualify for, but leaving cash in a deal isn't the end of the world if the numbers are right.The high level numbers look good.

@Trevor Stone You're exactly right, the my teammates and I spent together not only brought us closer but allowed us to perform at a higher level because we trusted each other. 

The type will depending on your entity setup, familiarity with accounting, interest level, etc.

@Gary Wildey There are numerous factors, and a huge one I would echo is what @Michael Dumler mentioned: if you don't have a team in ANY market (whether in market or OOS), it can add another level of difficult to your investment.  

It seems to me to be pretty risky for a newer investor, but I don't know your level of experience. 

Often porches above a certain height need balusters and rails and steps above a certain level need sturdy hand rails. 

.), try :STRATEGY: Start Up Guide to Short Term Rental Investing.This is a very intro level book with the background of how to get into Short Term Rentals. 

While I do ask questions about leins, ownership etc, I want to be able to have a high level of confidence that the property can actually close before I spend any money on inspections or appraisal etc and ensure that the closing duration is long enough for all this to properly happen.