Renovations are high cost items 

They might cut corners on essential structural or system repairs, leading to hidden issues that can be costly to fix later.2.

It will be self managed, I will be near the unit (less than 5 mins away) to clean and take care of any issues.My numbers:Approx Value of Home $240-280kCurrent monthly cost / $860 mo (mortg,ins,tax)Utilities / $250. mo (elec,gas,water,trash,internet)Cost to run as AirbnbApprox monthly cost with STR insurance ($250/mo?)

But in analyzing the numbers, my market it looks like I can pick up land for 35-45k, moving cost 15k, purchase of an older home and rehab 50k.

Now they're paying the price, plus double closing costs and taking on additional risk. 

Persistent supply chain issues and strong consumer demand have not helped the issue subside; however, the core driver of inflation is and has been increasing shelter costs.

But ends up costing them more.  

. - Ours states that if we find an additional occupant, we can immediately increase the rent by 10% and make it retroactive to when they moved in.

I purchased for 136k and seller paid my closing costs.

Competition is high and operation cost is high .My property is in California, so wanted to get ideas from owners who were in my shoes.Any suggestions appreciated.Thanks.