I have read several books on it and I know the business well; however, I don't have any experience.

The section 8 business model just doesn't work with my business model.

I'm so sorry for disturbing and coming this way;I really want to gain the experience.Also, if you're contemplating expanding your business using the Arbitrage model but need guidance, I am here to assist.

It's a pure business decision, so treat it as such.

We all know that just offering 'more' or chasing a property can be bad for business, and more importantly, not necessarily improve chances for executed agreement. 

I've been quoted Bamboo by multiple agents and online services, but I'm steering clear of that one. 

@Alexander Merritt   IMHO low end rentals are only suitable for local investors that are in the landlord business and are going to scale up and own as many as they can get 100's have your own PM and maintenance and that's the ONLY way in my mind that stuff will work over any amount of time.buy the best that you can if your just starting out.

Until then, my initial plan was to try and grow my capital (20k from a car flipping business) and get experience now so I can later focus more on cash flow down the line. 

All buildings close to the beach requires piling on the first floor then you can either add 2nd or 3rd floor depending on your business plan.You can reachout to real estate agents that are predominant in the area to provide you with short rentals income report.Let me know if you need any help or info about building ground up.

I had good success with theRTAstore  online.