Reynolds Jr the classic real estate investor book of all time was written (first version) in 1959, is NOT about wholesaling, and contains none of the latest tricks, fads or improbable tactics.However, it is the absolute BEST primer for anyone thinking of entering the residential or small commercial real estate arena.

BUT you probably should renew the lease and enter into an agreement with the tenants for protection. 

https://www.gladstonemoaccount...I don't use them, but they have a great reputation for their ease of use...i.e. you finish a dinner with a client and simply scan in the check to their app with your phone...bada bing, done!

You are going to want enough cash on hand to simply write a check for these types of things instead of worrying about if things are going to be alright or not financially.

I’d do option 2, Mammoth Lakes, simply because you have friends who have strs in that market which means they have contacts for handymen, cleaners, etc.

For example, if I buy a property from a wholesaler at a discounted amount, say 100k and the property needs 20k in repairs, and the property should be worth 150k when finished, if I buy it for 100k and only put 20k into the repairs in a short period of time, we have seen appraisers appraise the property lower than it should be appraised for simply because we bought it at a good deal.  

We simply add a cleaning fee.

there are some decent deals in the NNN space these days with less competition I found .. and management is simply not as intense.And I agree Scott Meyers offers a wealth of info on the SS space along with some really good networking with those that attend his mastermind

Is it the case they can't find a place to live or they simply don't want to move?

It's sort of a compounding effect to own property someone else is making the payments on and you reap the benefits.As a Property Manager that lives in Queen Creek and loves the area I vote you enter the arena of rental homes!