Every house for sale around here gets snatched up by companies for rental property. Quick lipstick reno, $2k a month for a 3/2. Which is why my house has doubled in value in 6 years of ownership. My neighbor turned down a cash offer (as is, no inspection) of nearly 300k, probably triple what he paid 12 years ago.
We're into Short-Term Rental Arbitrage (AKA AirBNB Arbitrage). It works really well for passive income.