Some are less risk adverse and want to save more.

This has been key to help me bounce ideas, overcome obstacles, and hold me accountable.  

Consider These Factors FirstBiggerPockets Podcast 252: House Hacking (Your First Deal) & Life Hacking with Craig CurelopBonus Audiobook Excerpt: The House Hacking StrategyThe Tax Implications You MUST Understand Before House HackingThe 7 Drawbacks of House Hacking (& How to Overcome Them!)

Can't forget that.Matt@ Matt Hoyt   California definitely has its upsides, and I think the largest hurdle to overcome is simply getting started.  

Seller further warrants that there is no material or other known defects or facts regarding this property, which would adversely affect the value of said property.

Just to clarify though, you can always overcome the negative point i made about from  investment standpoint by renting out your extra bedrooms, if you don't mind living with someone else!

Regardless of if this is a great deal a so/so deal or a bad deal which I certainly hope it's not lol, I hope it will help someone overcome the fear of there first deal.

Depends on how long the fence has been there, it might qualify for the "Adverse Possession" or "Squatter's Right" laws.

Did you run into any large road blocks that you had to overcome?

If things go the other direction(10% decline), you will have a hole that is 20% of the price to overcome.