The pitfall potentials are many, and most speak back to neglect in process.

There is also potential for an ADU in the large backyard, but I will buy another rental property before moving forward with an ADU plan.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Explore alternative funding options: Connect with potential investors who can help guide our decision.

We are being conscious of property tax on a vacant piece of land (our potential liability) as well as the potential capital gains taxes (their potential liability). 

Because it takes repetition for people to remember things and you have to be top-of-mind when they encounter a potential client for you!

Quote from @Patricio Acosta: I finally found the perfect flip in Coronado, San Diego—the agent hasn’t received any offers, the listing price is reasonable, and the home has huge potential.

What is quality of all the tenants on existing and potential?

Are there any strategies, tips, or potential pitfalls I should be aware of as I explore this market?

I remember some of my staff trying to rent rooms and they would get 70 applications and interview potential roommates in person to see if it was a good fit.