But then more than all of that, even if I wasn't too stressed about all of those things, the saturation in general there has gotten pretty high and it has caused my vacancy times to be longer than they used to be.

"Steady income" and "newly licensed real estate professional" don't belong in the same paragraph. 

Afterwards we had drinks and a gentleman stated he would be putting his condo on the market soon.

Brandt is correct, there is no place in business for emotions, leave your heart at home where it belongs.

The leases are month to month and 2 of the tenants seems to be long term tenants (10 years!)

As stated above, except for any food or drink you order there is no charge to attend.

Lot's of employees and high leases.We were at the GA fair last night and 2 cheese steaks, 2 onion rings, and 2 drinks were 44 dollars.

Given the vague post, it's really hard to say.While I do work Riverside County and currently belong to the Estate Planning Counsel, I don't go out of my way to do business in the Palm Springs area because of the high price volatility during low economic times.

If you have good relations with the neighboring property owners, ask them to let you know if it looks like demolition or removal of the major appliances belonging to the rental.  

Renter's insurance is kept by the renter for their own belongings and in case of break and enter.Let me know if I can assist you with anything else?