We fear that it will require a lot more maintenance and annual tenant changes.

Based on my research, Charlotte seemed the best bet in terms of house price to rent ratio, the age of the house ( i didn't want to invest in older houses in fear of more repair costs and such), and finally potential appreciation (though after listening to bigger pockets, I see that investors mostly care about the cash flow and buying just for appreciation can be a gamble).

@Brian Burke - I get your point about markets not tracking in parallel but part of my fear is entering an out of state market now and not being able to exit when and if the market I live in shows an opportunity and I need that capital back.

I fear that depreciation could make or break the deal. 

My fear is that they'll leave.

Maybe these things are convered in the linked post -- I'll have to check it out.But yes, this certainly puts a bit of fear into my heart.

My fear with COS AirBNB is as you said it's less of a destination.

They happen when the tenants don't really have a fear of your recourse as their isn't much you can take away from them.

Also, make sure you do not skip any steps in the process and get title insurance.You have to determine if it is fear, or a real gut feeling that something just is not right about the property...if its the later, move on. 

My worst fear is overextending ourselves with the company and the real estate.