I'm opening my second home and find them extremely rewarding but think I may stop at these two because I am extremely involved in them and am spreading myself too thin I think. 

The project seems to be too much risk for too little reward.

The renos are usually around 100k when it costs about 5k to buy just for reference, but they come in all shapes and prices.

More risk = more reward.  

It's been a really rewarding journey so far.

Here is a reference that explains:https://www.nolo.com/legal-encyclopedia/intestate-succession...2.

This is especially true if the CC&Rs do not explicitly mention short-term rentals1.Bed and Breakfast Clause: The mention of “bed and breakfast” typically refers to properties that operate similarly to a commercial establishment, offering lodging and meals.

I do not desire to reward tenants for poor behavior.I explain the consequences of an eviction to the tenant.

It’s a manageable and rewarding way to build something on the side—and down the road, who knows?

Speak to their references.