New to REI lending. Advice needed!

[Jason Mageo]

Hello! Newbie investor here looking for guidance. I've been in the analysis-paralysis stage for 3 yrs and have finally started taking some steps forward outside of "research" 🤦🏽‍♂️ My brother-in-law's uncle passed away and left 9 properties to my BIL's mom. She's looking to sell the final 2 properties, 1 of which I'd like to buy as a rental. It's a 1100 sq foot, 3 bed, 2 bath SFH and a detached garage that could be converted to a studio and rented for $1100+. Primary residence in this area rent for around $2100. Property needs plumbing, electrical, flooring, paint updated throughout. Need to have foundation checked as well to ensure there's no issues. Roof is less than 10 yrs old.

This house is located in Stockton, CA and I have a chance to potentially purchase this before they put it on the market in the next 2 weeks. I spoke to the real estate agent today and he’s thinking he’ll list it at 360k and let the bidding war begin. I live in San Diego and was going to have an inspection done on the house so I know exactly what needs to be updated/fixed and then walk it with my GC to get a quote on what it will cost me to the house renter ready.

I just refi'd my primary residence in San Diego in Feb so I don't want to refi again and pull cash out. I have 40-50k cash available, but I want to see what options I have to BRRRR this property and have the renovations for the primary house and ADU rolled into it. Any advice is greatly appreciated!