You are out in Cali so it is tough to get a good cash flow deal but if you have a comfort level check out states Like Indiana, Ohio, Florida, Las Vegas, Tenn, Georgi and a few others.Unlike Cali you can still find a decent 2-4 unit in states Like IN, OH and FL for under $250K with rents at or above $1250 a door.

Is it as simple as getting the site designed and engineered for the footprint, cleared and graded (all of which I am comfortable with), and then hiring a GC to build the building?

Capacity and Tolerance. 1) Capacity: how many people can you comfortably fit in the property, is there room to add more, or add more value to the tenants to increase rent.2) Tolerance: How many people are you comfortable living with, if there are vacancies are you able to handle that.House hacking is an amazing path to homeownership, and a nice low barrier to entry into self managing your properties.

Buying quality assets that are in a desirable location and in good condition with a modest amount of leverage is IMO the only approach that I feel comfortable recommending.

With that bank taking on the loans of all of our rental properties we decided that we were comfortable switching to that bank. 

I get that having a paid off property is very comforting, but to me it's not the best move if you're trying to grow. 20% down and 3% annual appreciation means you're making a 15% return on your downpayment. 

I’m not trying to second guess you, just trying not to make you feel like a peasant while I do important stuff. 

So, I started with a couple build-to-rent homes, then a couple more, and then felt comfortable to build a mini development.

I'm not far from you in Virginia Beach , Virginia  feel free to reach out ! 

However, it’s important to ensure the seller is comfortable with the terms and that the property cash flow can support the agreed-upon monthly payments.Seller financing can be a good strategy to grow your portfolio with less initial capital, especially if you're able to increase the property's value through improvements (forcing appreciation).