Our last landlord's wall mounted A/C units went out the first week we lived in the home, he installed central air that week and we loved him for it forever.

The zoning changes will make California a hot real estate market.

Desert Hot Springs, CA. 

Hot water heaters are tankless and new.

You can make minor adjustments based on the type of appliances (dishwasher, clothes washer and dryer, air conditioning, etc.) and the size of the rental.

But inflation for sure with hot Austin market and ice storm displacements.I am also remodeling a Lake House in Belton, Texas that we will likely sell, but I really thought MTR might do really well. 

That is something I would for sure have to look into as, according to your post, it seems like the timeline for mid-term rentals kind of lines up with the amount of time that we would be gone each year, which would work out well and probably require less of a hassle of trying to maintain the property after each stay for Air BnB.

.⚠️ Market Changes: A hot market today might cool down before you sell, which reduces the profit.⚠️ Financing Challenges: Hard money loans carry high interest rates that nibble into the bottom line.Unrealistic timelines: If you think you're going to be in and out in 60 days, you're sadly mistaken-most flips take longer than expected.Real Talk: Is Fix and Flip Still Worth It?

LTR and MID term are hot now as well, we have more people that want houses than houses to rent to them.  

While you may be willing to live without heat/ac or hot water for a week.