The big problem I have with rent control is as prices decrease less people invest or want to put money into properties and hurts first time home buyers and people getting started.  

I'm just thinking of worst case scenario where there is fire and tenants can't get out due to temporary missing egress on one side. 

My other reason is the likely potential to decrease the resale value tremendously due to the impact on future STR’s in yucca valley.

There's always risk in this stuff, but the more you decrease the risk the better.

Year over year, the median SFH price in Denver is up 14% from this time last year.11% -- the decrease in active SFH listings from this time last year.

If you buy in a location where prices and rents are increasing below the inflation rate, your only option will be to decrease your standard of living over time.

With all this being said if he cant prove his unemployment to be temporary or show income to cover a monthly payment it will be tough for him to qualify for any loan. 

The income possibilities as a vacation or temporary home are motivating me over setting it up as a long-term rental, but I am eager to hear the experiences of others.

It depends on the state, the actions of the borrower, the “bias” of the particular court should the borrower file an “action” (bankruptcy, wrongful foreclosure, temporary restraining order, non enforceability of mortgage or deed of trust, etc.).

but having set criteria will keep the ship afloat regardless of temporary hiccups. my hypothesis: Real estate will continue to go up in value in short term as well as the long term. there may be waves but that's why you built the strong ship to withstand them till the oceans are smooth again.