As you know its near impossible to find a good cash flowing deal in CA due to sale price, taxes and lack of inventory.Last one I closed on was over off of Germantown Road it was a great 2 unit that needed a little TLC for $160K but passed an inspection and was livable.

I've found this to be super helpful: When someone inquires about the property Thank them and Send them the pre-requirements (Income, credit, no evictions) and ask if they meet them.

Yes, you may lose out on income in the beginning when first trying STR out, but you'll never know until you try. 

Quote from @Jacob Sherman: you can utilize no income no doc construction loans . fund 50% of the land 100% of construction upto 65% ARV .

Selling the property within your Solo 401(k) and returning the proceeds to the account simplifies compliance and ensures tax-deferred growth (or tax-free in a Roth Solo 401(k.)).

I have a tax firm that specializes in working with real estate professionals/investors.

A $500k property should produce gross annual income of +/- $50K but can generate as much as $65-70k with the right location and amenities like a hot tub.

Do you have other collateral, such as another income property or your personal residence (last resort) your seller could record their lien against? 

Quick tips:1st - you do not need income to get financing.

thats far more than you will make starting out as an agent.. but once you get stateside and if you are successful at Commerical RE  takes 5 to 10 years to build your book.. then big income is a reality..