Wishing you the best in continuing to build out your portfolio. 

My idea is to get an apartment and make sure it’s okay with the owner to rent it out as an Airbnb.

The liability coverage is way better, the building coverage is often better, and commercial policies typically cover loss of business income as well, which a homeowners policy isn't going to help you with.California + wildfire area + STR is super tough. 

Want to buy an old commercial building or gas station that had leaking PERC or leaking gas tanks? 

In addition to STR'ing the main house, he is building 2 more units (ADUs) on the back side of the property.

Pace is a brilliant guy- he identified a need and is building a “solution network”.

Cash flow approximately 350 a month.Option 2: Use the cash to buy land to build a 6 bed 4 bath duplex, all in cost approximately 300k/330k. 

Are the new builds for owner/occupants or build to rent?

It makes sense for your new build but you'll have leverage something (fixed rate) to get out of that loan. 

Mine is a 2022 build  Hey Ryan, Your property checks alot of boxes for me for a MTR focused on attracting families as a whole home rental.Single story, Good school district, Little to no competition on Airbnb, No HOA.I bought a property once in 2015 and it barely cash flowed as a LTR but now 10 years later, I cash flow as a LTR about $600 per month.