I'm considering purchasing a condo or a small SFH in the Oceanside/Carlsbad area as an investment property and renting it out on a short term rental site like AirBNB. 

Agreed- with a long term rental you can be very clear and upfront about all the nuances/quirks of the property and what is included because the transaction has far more direct communication.

The rent control in some cases is really unfair to the landlord as the percentage increases are virtually irrelevant when the rent is a small amount.

I'm not too hung up on this, because the margins still appear very attractive (from what the agent speculated ARV). my hesitancy stems from a lack of experience and direct steps/plan of action to take on a property I like. 

I was involved in two small infill developments in Michigan (about 15 houses in total) so two very small parcels. 

Investigate what (if any) additional fees that they charge for handling evictions, and find out whether they go to small-claims themselves, or hire an attorney.

If you are single, look for uneven multis where you can live in a small unit and rent out the bigger one (e.g. - 1/1 and a 3/2 instead of 2/1 and 2/1)2.

Jaedon, that’s a question I’ve seen stir up a lot of debate, especially these days when the cost of capital and property prices can feel like they’re arm-wrestling over who goes higher.

My favorite way is is simply using Pricelabs using a comp set, OR using Airbnb itself to see what your direct competition is.

A small house or duplex for my grandson, a set it and forget it type of investment.