I believe it tends to give me a slightly lower return, because the sponsor is going to be more careful, and if there is a severe downturn will prevent me from taking catastrophic losses.

I am looking to change my life and the lives of those around me by investing in Real Estate.I am most interested in long-term Rental Properties, moving into short-term like air bnb and flipping.

There are also winter issues (e.g frozen pipes possibly bursting and having to crank up the heat to prevent that) that we don't deal with in CA.

The duplex I just got I am putting in 10k just for preventive maintenance making my all-in price 90k, with 20k in rent.

There are other investments like air-bnbs where owners rent by the night similar to a hotel and those are referred to as short term rentals. 

Or about them using the property for Air Bnb or subletting? 

I'm guessing after logging died down they had a steep decline but seems to be on the upswing now... low cost of living and good recession-proof jobs due to the Air Force, Sky Lakes Medical Center and Oregon Tech...

The single-minded focus on cash flow, even while house-hacking, has prevented so many people from buying here in Denver and Colorado Springs. 

I'm underwriting a building now that's in a salt air city, a block from the beach. 

Also, there is no visible mold and no mold smell in the basement (there is a little on the caulking beneath a single pane picture window upstairs which I'll deal with).That didn't sit too well with the tenants as they have been looking online and finding information about how dangerous it might be, and it didn't help that the first report that I had done the inspector attached a boilerplate message recommending a full HVAC cleaning (ducting is 1 year old) HEPA vacuum, air scrubbers, double washing everything in the unit with bleach, etc. so now the tenants are being fairly combative and insisting that more needs to be done.