The idea appealed to Meta employees, who had plenty of money to spend, along with a natural affinity for a crowdfunding website reducing the friction of real-life investments.

Living rent free (again not assuming that is your situation, but guessing many parents with adult children at home don't charge them rent), it can be easy to spend that money and then when you are on your own, having problems budgeting.

When my handyman came to the property, I would give him the list and a credit card, and he would spend the afternoon driving back and forth to Home Depot.

Hey, I have a pile of money I would like you to help me spend doesn't always bring out the best people.

Sadly, I've seen this happen where a company spends time and money to get a judgement, then files a garnishment on their paycheck, and the person just files bankruptcy. 

Not to mention it’s all tax free money you can spend today due to the tax code.

Sure but you need to spend more time on real estate activities than other activities (business or W-2 job).

Generally, I find that anyone spending a ton of time on one property decisions are not usually worth the time, but you are smart be seeking guidance.

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!).

Another thing i heard is the houses are older so once they move out, I'd have to spend 10-15k to rent to new tenants and all the cashflow I've made before goes away.