Upfront though you have to let them know this is your property and your risk.

It's never a guarantee with higher-end or lower-end tenants, but your risk of a bad tenant increasing as the quality of property decreases.

Win win for all involved!

I plan to move to the Austin, TX area when I graduate (1yr) and work a full-time job while involved with real estate investing.

I think the key take away here is that the Cap Rate is way to low for the level of risk even though the tenant is locked into a LT lease. 

So I just became involved with investment lending on fix & flip properties.

No one knows what will be the final legislation but any plan of a non-owner occupied STR would be risky.Even if you use the house hacking method I suggested you look into, because you do not know if you would be staying in San Diego long term, the STR route is very risky and therefore I would not recommend it but you can look into the proposed legislation and decide if it is a risk you want to take on. 

Majority of the deals are buy & hold with some flipping involved.

Great idea to get involved with RE investing early and reap the benefits of compounding appreciation, as well as cash flow.I'm a Retired USAF Officer & my Son is Retired Marine (Class of 91). 28 Years experience in Real Estate Sales & Management.

I am not looking to get involved with an attorney who will tell me anything in light of picking up the case knowing he will be paid no matter win or lose.