Honestly, this is my first time trying to invest out of California and I have to admit the numbers are sometimes overwhelming and confusing to me.

This is an overwhelming situation and I'm not really sure how to navigate it.

Quote from @Dan Powers: @Ernest Wade It all depends on what kind of returns you are looking for.

The first one can be overwhelming but it gets easier from there. 

That extra buying power will give me a better chance of finding a property within the area I’m looking in.

Never under estimate the power of good old fashioned fun in real estate.I have a couple questions/ideas for you. 

Provided your Sub2 purchase closing is done complete with all the necessary paperwork (e.g. limited power-of-attorney between the sellers and you), refinancing should be no different than a normal refinance.Sub2 can be heaven or hell, depending on the quality of your closing paperwork.

If you don't have water, sewer, and power at the property already, it will substantially limit how many units you could feasibility build even if 100% of the land was otherwise usable.

If you start pooling money from people who are not full partners (i.e. have decision making power), you will start to cross into the territory of securities, in which you will be subject to SEC rules.

One other tip is to let your listings expire and re-list that makes them not appear as 'aged and stale' - power users will check history and notice but you may get the attention of some and those that have recently setup alerts.