Quote from @Neetu Patil: For California, I highly recommend you join the California Apartment Association (CAA) where you can get forms, training, laws, legal help, etc.You are in the most regulated, litigious corner of the world where tenants can literally stop paying rent for years and prevent you from even inspecting the property.

You may still take important efforts to expand your expertise and knowledge in the real estate market, even when your age may prevent you from engaging in some activities.

With the new 5% down program they are also hesitant to have such a large upfront cost which prevents them from buying a second property next year. 

Assuming I could qualify financially (primary income plus FHA allowed rental income contribution from additional leased units), when I become the owner of the property, would that prevent me from using a FHA 203b to house hack a second property?

While Federal law prevents prepayment penalties, the lender and loan officer are on the hook if your loan is extinguished in 6 months (tehcnically 6 payments). 

It's there to prevent hiding behind LLCs for shady reasons, including tax evasion.

With the right property manager, a little TLC and preventative maintenance, it'll be a cash cow for you. 

Quote from @Brandon Gall: I have, but from my understanding, a securities-based loan would have a more competitive interest rate.

For insurance Hunter Gall from Whims Insurance Agency gave me the best rates.

I would NOT recommend this company to my worst enemy and I hope that I can prevent others from being scammed by WealthAbility by posting my personal experience on as many forums, websites, platforms as possible and by filing complaints to every agency out there that deals with consumer fraud.