This model has worked very well with our other properties and the guest interaction/management is kinda fun. 

This property does not sound like it would do that unless it was for your own fun and you wanted it for a vacation home.

IE stucco siding tile roofs etc. 4. no state income tax5. super easy to get to  200.00 round trip from SFO and only takes about 65 minutes. 6. fun place to go. 7. buy nicer areas that have strong rents.. when you run ALL the numbers  tax's  cap ex  on going maintenance you will find you can spend more get a very nice quality home that performs as well as homes that appear on paper to have better numbers.. 

But mostly folks who come to the beaches for fun and relaxation. 

Serious buyers are out in the winter.

It's not fun to have the carpet pulled out from under your feet.

@Travis ColsenIt has been very mild the last 2 years so this winter is not making a lot of folks happy, but my family and I love the snow so we are enjoying ourselves.  

Not a fun experience to say the least so the take away here is 2 fold, avoid long distance rehabs and make sure you buy right in good areas.I did several other rehab projects out of state that were rentals which I wanted to sell so I could use the capital in my own backyard.

I have also found that heat pumps do not heat the properties well in the winter so the tenants tend to turn them up to 85 plus then open the windows.  

Ended up several thousand over that, mostly due to the electrical work being more significant than I had seen when I walked through it, the heating system coming in over-estimate, the cost to keep it modestly heated over the winter after we bought it (thanks to the electric heat), and some performance-related labor issues.When I purchased it (November 2015), I figured it would be worth around $140K finished, and rent for $1,400 or so.