The 2 biggest down sides in Southern CA is 1) in Single family zoned areas ADU additions add a value far less than the cost of the ADU addition.  

Share your biggest challenges when funding your deals, is it Interest rates, down payments, or something else?

Looking at AirDNA results, my biggest concern is occupancy rates, most of the calendars I look at have large gaps in them, and when you spend close to $500/sq. ft at current prices (in STR-designated areas), your property needs to rent well above 80% or you charge crazy nightly rates.We've also seen very few property management companies that charge less than 25% there (and 25% is rare), and some STR neighborhoods require you to use their designated PM (Desert Colors only allows Red Rock, and they are at 40% commissions - ouch!).

One of the biggest mistakes that investors make is they are not clear on what it is they want to invest in, and what their goals are with their investments. 

@Paige Kehoe cost vs time will be your biggest challenge!

You will be way ahead of the curve.Your video production skills will be your biggest asset to trade for experience and you need to keep this in mind.

Probably their biggest weakness is that they don't have a lot of volume.

I was the biggest skeptic on this website until I did some research. 

It was very childish and unfair of me to “sneak” out in a way "This to me was the biggest aspect I was concerned with handling wrong, so I feel somewhat relieved that I can begin taking things into my own hands and get this property cleaned up and back on the market.I really wish there was something I could look back on and know that I made I mistake on in renting to her, but overall I could not find this mistake in the background, credit, references etc.

Our biggest expense has been property taxes.