That doing an appendectomy without a medical license is illegal. 

I almost don't even pay attention to the current listed rents.

I just wonder if there are something I need to pay attention to for listing on Airbnb.

(Note:  I spent years as a speaker, life coach, trainer...the exasperating side benefit to that is constant self diagnosis...and some vodka for self medication).

These lower end properties often times need more attention on the management side of things and can be difficult for third party pm companies to handle. 

Ideally, this will be a long term buy and hold property (and the money contributed by my parents would eventually become part of our inheritance anyways), but they want assurance that in the case of some medical emergency or time of need in the future they could get the money back? 

Everyone has the same hours in a day to use but with so much demanding your attention, it can become a struggle to get everything done.

My niche is medical students, don't have time to party and guaranteed money for 2 years.

Pay attention to what's going on with rent control, too - there is a virulent and growing activist populism growing in the cities especially Sacramento that should be taken into consideration which most unseasoned investors are not. 

Like 99% of people on TV or Youtube,  I wonder if he's looking for controversy or attention..... hmmmmmmmm....RE will be more consistent that the stock market for many many decades to come.