With a portfolio loan, cashflow will suffer on the existing properties. 

I think for the average 1 rental owner, it's simply too much fuss, and the opportunity cost of that time and energy is either relaxing, or doing other things to maximize bookings like interior design.I think the industry in general suffers from bombarding new hosts with 10,000 things to do in month 1 (OTA, direct booking sites, linking calendars, specific smart locks, etc.) when in reality most owners should probably list on the most relevant platform for their area in year 1, develop a rhythm and learn a few basics, and then start looking into improvements from there.Certainly with multiple properties it starts to become a more compelling argument.  

Focus on a niche like house hacking and people will be willing to pay you for your niche knowledge even if the more general agents do suffer (which I doubt happens either). 

A swimming pool or contained body of water or barrier constructed prior to the effective date of this article.I believe it dates to JULY 31, 2019"If a child in Arizona drowns or otherwise suffers an injury because of your improperly enclosed swimming pool, you could be civilly liable.""

The Unethical thing that you could not do that may be considered illegal is if you in some way destroy or devalue the property since it is an asset to a senior lien holder and they may suffer as a direct result if you do any damage.

You have to look at the value that hiring will bring to your company, allowing you the freedom to continue to make money elsewhere, because if you try to do too much, the quality and value that you bring to your real estate will suffer.

California caps what the landlord can recover when a tenant breaks a lease; they can only recover the actual damages suffered because of the termination of the lease.

In my experience, as long as the insured loan is performing, the lender has not suffered a loss, so the insurer is not required to do anything. 

You have to suffer the 1000 no's to get one maybe.

To answer your question directly, the biggest risk, and one that 99% of new wholesalers suffer from, is wasting your time learning the intricacies of wholesaling when it really doesn't matter.