But that is what due diligence is for and all those risks exist locally as well.Study the market you want to invest in, analyze the economy, school districts, crime rates.

I'm not sure how you can conflate someone sharing a perverse and blanket opinion of California's economy with an investor spamming another investor's facebook page because they resent that opinion. 

(I’m more conservative than others on here) Obviously the plan will change slightly with the economy and opportunities, but I think it is important for me to have the plan written out in a spreadsheet.

I understand efficiency and economy of scale, as do these professionals.

Strong economy with a good family oriented communities.   

I'm not sure what we're going to do about pulling equity out now that the economy is in the situation that it's in, so I thought I would post an update anyway.When the tenant went to move in, the property manager found that the (brand new) A/C condenser had been stolen.

@Mark Tyler - this is the sort of upside a smaller/private operator can bring: https://www.adn.com/business-economy/energy/2019/12/09/doyon-announces-partnership-with-hilcorp-to-explore-for-gas-oil-on-its-lands/Hilcorp has struck a deal for development on Doyon's lands. 

In a true vacation rental market where the economy relies on tourism, you wouldn't need to.

This is the most common occurrence regardless of specific market forces that contribute to the changing economy. 

There are a couple up and coming restaurants and shops in the area, but nonetheless it's not a thriving economy by any stretch of the imagination.https://www.biggerpockets.com/... here is the numbers i ran on it.