Hi Alexander, On a full documentation loan, lenders will allow up to a 95% combined loan to value on a primary residence assuming income is strong enough to support your debt to income ratio and reserve requirements are met. 

Add the pref to the debt and you have 95% combined senior capital in front of the investor's common equity. 

My and my soon to be wife both graduated college at the same time and we make a combined $150k/year ($75k each) We are still living at home with our parents to save money, and we want to build wealth in real estate. 

Although AB-968 doesn’t specifically mention “licensed” contractors, the state of California already stipulates that “anyone who contracts to perform work that is valued at $500 or more in combined labor and materials costs must hold a current, valid license from CSLB” (source: CSLB).With AB-968, if work is performed by an (un)licensed contractor in an amount that exceeds $500, disclosing that entity’s or individual’s name and contact information becomes a legal requirement.

Happy to exchange companies to avoid if it would help.And to answer @Michael Smythe's question, I interviewed the crap out of management companies with what I felt were great, in-depth questions, both times we hired bad managers.

Combine this househacking with joint venturing on some commercial property around the same market (5-20 units) with a few other investors that compliment your skillset and viola, you will obtain 30-50 units in 3-5 years. 

Year 2 rent has been crap increase wise but I think that'll be the case till 27 just cause of BTRs, a bit more flooding, but there's still a short out there. 

These properties are valued at a combined $430k and are both mortgage-free.

If you were to combine several of the units together to the point there are only 5 units in the building, would this destabilize the whole building and be able to bring the rents up to market rates once the leases laps? 

You can also purchase inside of a LandTrust for additional anonymityPro- Legal protection; combined with the right type of insuranceCon- Traditional bank will not lend to an LLC with no track record.