one truism I think for rental real estate is returns and price points are very much risk adjusted highest returns lowest price points  biggest risk.. smaller cap or return and prime location least risk..

With any investment there are risks, but how much control you have to mitigate risk is what makes the income snowball a low risk strategy.

This answer depends a bit on your age, your risk tolerance, and a few other factors.

I can see it as a corp retreat, maybe event space etc, but selling seems the best way to get out.But the best strategy is simple not to buy in an area where the risk is great enough to lose the STR aspect.

CA can be tricky but some risk can be mitigated depending on the end buyer and the closing company. 

Here are key steps for effective screening:Application Form: Require the new tenant to fill out a detailed rental application to collect essential information, including employment history, references, and prior landlords.Credit Check: Perform a credit check to assess financial reliability, past payment behavior, and overall financial responsibility.Judgments & Liens: Ensure judgments and liens are included within your report; they are no longer on credit reports.Background Check: Conduct a criminal background check to identify any potential issues that could affect their suitability as a tenant.Income Verification: Confirm that the potential tenant has a stable income and meets your required income-to-rent ratio.By thoroughly screening the potential new tenant, you'll ensure that they are a good fit and reduce risks associated with lease transfers.

@Shema Cochrane Most investors I've known in the mobile home investing space who have transitioned from smaller deals to larger deals have worked with partners to offset the risk especially when purchasing mobile home parks. 

It provides strong protection against lost rental income and tenant-related risks, which can be a game-changer for landlords.At Marketplace Homes, we offer Steady as part of our property management services, making it easy for owners to ensure their investment is protected while we handle the day-to-day operations.

There will be a promissory note drafted for the amount and the duration and interest rates.Is there a risk involved? 

They factor in risk of arson, bs torts, etc...into their figures and that is what you get $3600 per year.