Most tenants started off as a 6 month or 1 year, and are now on a month to month basis.I am in California.

I am in ca.

Did you know if you act as your own GC in California that there is a 10 year period from substantial completion to discovery of a construction defect to file suit (called the statute of repose).  

In Memphis, we are a year or two behind in design compared to markets like California or NYC so if things are changing here on the high end, it will start dwindling down to the mid to low end across the country. 

@Bill Hamilton  here is my pathAgent at 18  in CA  broker at 20... sold RE for about 12 years .. then got hired by syndicator in Bay Area doing site acquisition ( great job I got commish and equity) In 1987 I engineered the buy out of a HML company my dad used for 20 years..

One familiar reason is NIMBYs ...while it is important that local residents have input on new housing, their resistance to new development is "heightened" especially in coastal California, and it's slowing down the ability of developers to build more housing to alleviate the stress on the limited housing supply. - sourceAnd while the average project approval time for new construction is about four months nationally, it takes eight months on average in L.A.To recap, here are some of the challenges inhibiting development in LA:Getting entitlements for new development is expensive and timelyNIMBYism and the control of local communities over the planning process adds tremendous risk as a project could be stopped due to law suits, lack of approvals, or requirements which make deals unprofitableThe high cost of land and entitlements coupled with a lack of incentives restricts the pool of developers who can afford to developBecause it is so challenging to develop and because we have such a shortage of housing, developers can only make their deals profitable if they target high-end buyers, further contributing to macro-gentriction wherein only the affluent can own homesThat said, it isn't impossible for a developer to develop.

Remember what happened to all those CA, NV, AZ and FL "investors" (i.e. speculators) back in 2006 thinking the party would go on?

I am not sure how the country of California works.

Where most of my units are (Escondido, CA) it is hot but the tenants do not expect air conditioning. 

The 4th Ave location is labeled business 8 and has many smaller shopping centers and local restaurants that make it a better selection for air bnb than most of the rest of yuma west of 4th ave which is primarily family neighborhoods without any real attractions for visitors to enjoy.Also, the main street location would be the closest to the Quechan Casino on the Arizona and California border.