Never bought a home before and want to use the advantages of that to buy my first property that can hopefully generate cash flow.

I specialize in lead generation for agents and wholesalers, and I’m here to learn and share strategies

They are your customer but that doesn't mean they can dictate how you run your business.

These both seem somewhat high though considering I’m not trying to build anything too fancy or custom.

Marco,I'm extremely close with a RE attorney who got a template off the internet and then customized it. 

I would advise against for residential customers, since those units are simple and have straight forward maintenance that can be covered in an annual “tune-up”.

That way regardless of 2-4 units you can add an ADU for you or as extra rent per month.Most of my customers tend to buy outside of CA but it is possible to buy in Cali if you are going to buy as a primary home.

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.This example shows that while the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.

The issue becomes if I leave, the proerty doesn’t generate positive cashflow.

You now have a higher-value property that is ready to rent.Rent: Once the rehab is complete, rent out the property to generate monthly cash flow.