However, I've been warned that investing in vacation rentals can prove disastrous if the politics of the region are unfavorable.That is, in certain areas in California (Coronado I've heard for instance) the city has essentially banned rentals for under 30 days, effectively destroying the Air B N B and vacation rental market there.Does anyone know if there's any such push in the Avila/SLO area by local politicians or the community?

She was yelling at me about how rentals destroy a neighborhood. 

@Nick TerranoFew things: There will always be first time rentersOwners will always downsize to rent statusBuyers wont close and will rentThere is no "static cap" to the amount of renters in any large, metropolitan area.

Should the rent reflect tenant relocation since they wont be in the property for 3-4 days?

You wont know until you try. 

The police precinct nearby was destroyed during a protest and it is challenging to get the cops to come if there isn't a crime in progress.

I wont make any $ the first year but will cash flow well soon as I can raise the below market value rents. 

This is because he wont get commission, he will do most of the work, and he will enter with 10%.Good luck

Covid isn't going anywhere, you'll buy this property and sit on it while someone doesn't pay you rent, won't accept cash for keys, will continue to destroy whatever is left of the property, etc.

Do not expect to score an home run deal(not to say you wont) using MLS, at least not for a while.There are other deal finding strategies that I may have left out .