Best thing to do would be to speak with a good local CPA who can guide you through all of that.  

Here’s how I’d break it down and strategize your entry point.Key considerations include the current and pro forma cash flow.

We have invested in mobile home and multi-family syndications, and we want to diversify into a different segment with good cash flow and some growth opportunities.

The Numbers:Cash Flow Analysis: Investors typically look for properties that will generate positive cash flow—meaning the income from rent covers the property’s expenses (mortgage, taxes, maintenance, etc.) and then some.

Many purchase deals in the city/county of Los Angeles are still going through already.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

With $100k down it’ll probably be slightly negative cash flow.

I don't want to wait another 6 months to get more property through conventional.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

When you say you want to prioritize cash flow over equity, you want to watch out for people honing in on that and selling you "good cash flow" deals which will be in D neighborhoods and will come with high capital expenditures and harder tenancies.