Joshua Tree is a bit of a tough market as there are a lot of STRs in the area.Be prepared that your first year might be a little thin as you are new and need to build up some reviews to get rolling.The interior is a bit of a toss up.

My goal, over the next five years, is to utilize real estate in lieu of my current hourly consulting income, by building a portfolio of rentals.  

Now if your thinking location jumps out as a big factor to all this, you hit the nail on the head, location location LOCATION. 

And this low demand could be a couple of factors, either a rural location with low population density or the area incomes are not high enough in order to prevent a rent burdened scenario. 

Building a solid team is another crucial factor.

Adding 3-5 properties a year until I retire (~5 yrs).I could use help with understanding how people prioritize the various factors in evaluating markets. 

You'll get a feel for the age of the neighborhoods, the vitality of the commercial buildings, the ease of location, the closeness to jobs.The markets you're describing are more linear, and usually have lower capital appreciation.

@Heather Bailey while I live in my duplex, I have a standard Hazard insurance policy and I also carry an additional 500k umbrella policy (optional); both policies cover the entire building, but there's no separating it. 

Here are some of its vitals:- Zestimate: $345K (I know this is typically 10% or so high)- Last Sold: 8/2021 for $281K- Roughly 1400 sqft- Some cosmetic work needed- $25K left on solar loan- The home was build in 2004 and it looks like it has the original AC unit, so I am assuming that needs to be replaced too. - 2 story house with very small rooms and and 2 steps down, imminently as you enter the front door.- Gated community and in a reasonable HOA. - The home is 2 payments behind and already got a letter from the lender about future foreclose.

Especially on small multi family buildings since most of them are in more urban areas.