Furthermore, my advice is to pick a singular investment thesis or asset class.

I wouldn't focus singularly on individual city initiatives/projects and would recommend focusing more on fundamentals.

Going along with this, is this different if you're acquiring a smaller deal with just a singular partner? 

People focus on the rates because they are a singular number and easy to understand but you can lose money on a rental at a low interest rate and get rich paying a high interest rate.

They are singularly focused to avoid the pain. 

Maybe you don't notice it, but it's notable to others who have experienced life outside of CA and don't have CA as the singular center and whole of the universe in their mind. 

Advertising your singular product (STR's) on multiple platforms is a lot different than trying to start out doing too many different types of businesses instead of focusing on getting good at one. 

The contract I could find says the following:```...together with the right of ingress and egress at all times for the purpose of mining, drilling and exploring said land for oil, gas and other minerals, and removing the same therefrom.And said above described land being now under an oil and gas lease originally executed in favor of [Oil Company], Chicago and now held by [Oil Company] it is understood and agreed that this sale is made subject to said lease, but covers and includes of all the oil royalty and gas rental or royalty due and to be paid under the terms of said lease.It is agreed and understood that of the money rentals which may be paid to extend the term within which a well may be begun under the term of said lease is to be paid to the said [purchaser], and in the event that the said above described lease for any reason becomes cancelled or forfeited, then and in that event, the lease interest and all future rental on said land, for oil, gas and mineral privileges shall be owned jointly by [owner] and wife and [purchaser] each owning & interest in all oil, gas and other mineral in and upon said land, together with interest in all future rente.This sale is made for and in consideration of the sum of Ten Dollars, cash in hand paid, the receipt of which is hereby acknowledged.To have and to hold the above described property, together with all and singular the rights and appurtenances thereto in anywise belonging unto the said [owner] heirs and assigns forever, and we do hereby bind ourselves, heirs, executors and administrator to warrant and forever defend all and singular the said property unto the said [purchaser] heir and assignee against every person whomsoever lawfully claiming or to claim the same or any part thereof

I think the failure of thought is to think any 1 singular approach alone is any kind of "silver-bullet" sure thing. 

For cash management, I use lots of checking accounts, BUT I manage the rentals as a singular business not with 1 account for each property.