Volatility is much higher and HOA fees can really drag down your profits. 

I have most of my portfolio in the stock market, and I want to reduce the crazy volatility we are having recently adding rental properties.

the balance can go in other vehicles but nothing too fancy or volatile...  

Also, the same goes for the tenant for possible landlord negligence, they can leave with 30 day notice.Only downfall for month to month is the volatility and uncertainty of what will happen every month.

I have noticed that many areas that are least volatile during recessions also have the largest long term gains.

Unless the markets is highly depressed or highly volatile, I think the team you are working with is most important.

My returns are going to be greater elsewhere but active management and volatility of the stock market both suck.  

Appraisals will always be a hot topic in a volatile or changing market.

The price that you pay for that liquidity is volatility.

I don't know much about Banning except it's a fringe area and highly volatile like Hemet and San Jacinto.