Points I can roll into the cost and don't mind a buy down if necessary.My primary concern is the bleed rate monthly for the build, Airbnb stabilization and the year after while we season it and prep for final financing for long term hold.

Is anyone still using free classified sites to market for Motivated Sellers?

The amount of knowledge & information explained and provided is mind boggling honestly.

That's on me, my other properties are in good shape, this one was always out of mind.

There are a couple of things that come to mind, if a payment is missed the lender cares, if the servicer goes out of business or misses a substitution of trustee, the lender cares, if the borrower goes to the lender to try to get removed from the loan (usually to buy another house) the lender cares, if the property gets caught up in a bankruptcy or divorce, the court cares and that means the lender gets involved.

To give you something as a reference based on your budget (30-40% down with $1.8M), the general cap rates you will see in the Bay Area are roughly 3-5% https://www.loopnet.com/Listing/1047-Rich-Ave-Mountain-View-...https://www.loopnet.com/Listing/1180-Saranap-Ave-Walnut-Cree...You will find higher cap rates and more 20+ units buildings in SF, Oakland, and Richmond, but keep in mind of their stringent tenant laws. 

With all of that in mind, I think it would really be dependent on where you see that specific market going.

When I need something done fast, I can count on them to squeeze me in.Keep in mind that if you need the cheapest option for your deal to pencil, you probably should not be buying that deal. 

@Jonathan Greene I don't mind them generally but when they raise huge amounts for syndications that go south that is another story.

Just need to stat under the occupancy limit.Also keep in mind basement needs to be livable square footage, ie have egress and proper ceiling height.