I had hand selected the tenant for it and he was terrific.

I have a lot of experience and can tell you that the majority of renters ask to sign a longer lease because they want to distract you from looking too deeply into their past, they want to entice you to select them over other qualified renters, or they want to negotiate a lower price.

San Diego recently implemented an STR quota and one of our STRs was not selected in the lottery. 

D. (2) states "if third-party payments received exceed Buyer's obligation, the excess amount shall be paid to Broker, or credited to Buyer, or __" with the buyer's agent selecting if excess above the agreed payment amount shall go to the broker, buyer, or someone else. meaning that the buyer could receive the excess if the commission offered is higher than that agreed to between the buyer and their agent.

Also, if you know somebody who selected option number three and lost 100% of their money, would you feel bad for them?

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People are still traveling but being more selective where they make the memoriesI wouldn't say a crash per say is coming with these properties.

You won't learn a ton, but you will have skin in the game, and you will see how the business actually works.If not, then you need to learn the business before selecting markets from afar.

I have 2 4,500 sq ft indoor pool homes just finished up and because of material selection and sprinkler system the insurance is less than my 3 bed pool home a 1/4 mile away.

We are extremely selective with the deals we pursue and who we pursue them with.... which is why we have the track record we do.