Also, for flips, I like to reserve an additional 15-20% in contingency for unforeseen conditions or changes. 

Additionally, consider operational costs like cleaning, staffing, and marketing, as they can quickly add up.For management, outsourcing to a professional property manager or leveraging tech platforms for bookings and operations could streamline things, especially if you plan to scale.

I'll look into VRBO as an additional platform as well, thank you!

Additionally I would add a benefit for you is that you're in great area to be able to invest locally and can invest in your own back yard as they say.

Additionally, collecting the tenant’s portion of the rent (not covered by Section 8) can be difficult.3.

Here are a few ideas to explore that might help you get closer to homeownership in San Diego without selling:Cash-Out Refinance:Refinancing one or both of your El Centro properties could free up additional cash for a down payment without selling.

Additionally, there’s always a risk that any pet-related damages could be hidden under furniture or otherwise concealed, potentially leaving us to cover the costs if the security deposit is fully depleted by other expenses (e.g., damages or unpaid rent).

The cons as i see it include loosing the 2 of 5 year cap gain exception, typically not an ideal rental because the emphasis at purchase was buying a good home for your family and not a rental with optimal return (my ex-home consistently has the lowest cash flow for equity in my RE portfolio), not disconnected enough from the property causes addition angst on damage and may result in over improvement.  

On the positive side, it seems like you have a good potential BRRRR that you can use to purchase additional properties.

Also, here's an article with additional FAQs on cost segregation studies that you may find helpful.