Right now there's huge concentration, but as this continues to build out and we see north of the high 30s GW by 10 years from now it'll be almost a requirement to keep some type of locality based risk assessment and to diversify. 

I also don't want refinancing risk, so any deals with only 3 to 5 year debt are out for me.

You can mitigate risk along the way.

Can be done 100% remote, nationwide, all but 0 risk. 

This isn't just high risk your talking about Zach, your talking about compounded high risk. 

And @Natalie Bender is right about spreading your risk by going into multiple DSTs. 

If you want to start a fix & flip business that allows for bigger returns but bigger risk, that's another. 

I heard when you're young, it's the best time to take risks, at job that might pay less, but offers knowledge, experience, and growth.

The problem now is that if you're looking to do a cash out re-fi (e.g. as part of a BRRRR strategy involving the development of ADU's), there typically are no comps for an SFR + ADU + JADU, so an appraiser makes adjustments to SFR comps and gives very little value to the ADU's. 

I involved insurance, remediation, restoration and they all did their part and finished in 2 weeks.