Based on what I've learned through my research so far I would not buy a CA property just for Airbnb, unless if it's somewhere where I could potentially use it for a long term tenant if things were to change.. but this is a little different. 

Idea of long term buy and hold investing, building up equity & future cash flow.

This will be at a higher rate than if you had long term tenants.

You are NOT going to change their behavior.Charge the late fees, see if you can also charge a Daily Late Fee to discourage them waiting too long to pay.When is the lease up?

Me:  Well yes, as long as you use the same amount of water.

Holding Period: Short-term vs. long-term holding affects tax treatment.What challenges have you faced with taxes when flipping properties?

We have had 2 long term rentals. 1 when we were in our early 20’s and got hurt a little during the 2008 down turn and sold it.

Also, if the sponsor is new, I am fine with less skin in the game as long as it is significant to their net worth.

By talking more to the police, we found out that the main tenant had a long history of inviting guests in exchange for help around the house and that those relations would always turn tumultuous and that the police visited the house several times each quarter over civil complaints, suspicious activity, noise, drug related activity, and a bunch of other civil nuisance type of calls.

Ceiling fans do get dusty but it’s take a long time to get in that state and it takes 2-min per fan to clean unless it’s greasy.