They are short term rentals @Marie Grabo. :) I would take some time and check AirBNB and VRBO directly and see what others are charging nightly, what their amenities are and what their calendars look like.You can compare that with the AirDNA results and get a better idea.

Factor in costs such as:Property taxesInsuranceMaintenance and repairsProperty management feesVacancy periodsLong-Term Strategy:With plans to acquire multiple properties, develop a clear long-term strategy.

Your risks in terms of a tenants is more spread-out.

In addition there are a wide range of grants HUD supports in most cities to improve a property to rent to low income people.Perhaps the best decission in looking at section 8 and low income rentales are the larger assets of using the contract incentives and special financing programs that only exist to those who provide services and employ your tenant that you could benefit from.

I don't think it's very profitable and even less given the risk.That would leave you with the classic that most foreign investors do: short-term rentals.

From CSLB:This section defines what an owner-builder is and the laws surrounding the practice.An owner-builder is what the term indicates: a person owns the property and acts as their own general contractor on the job, and either does the work themselves or has employees (or subcontractors) working on the project.The work site must be their principal place of residence that they have occupied for 12 months prior to completion of the work.The homeowner cannot construct and then sell more than two structures during any three-year period.Getting a GC license and going Legit is pretty difficult.

Also, what type of property (turnkey or fixer-upper) / and your rental strategy (short-term vs. long-term)?

It will be difficult but not impossible to find a lender that will take second position and very likely the first lien holder will be apprehensive to a subordination agreement..The terms will not be as favorable likely in the 7-8%'s I/O but on a new mortgage there are investors that theoretically can finance 'unlimited' units..I think with our team it's 250+ up to $100M.

It may seem counter intuitive, but the basics of real estate mentioned above are actually MUCH more important for long term success than the knowledge of any one technique or strategy. 

The presence of the wiring was noted a week or so after we were in contract, but I also assumed from the start that it may come up on inspection due to the age of the property, and its location.