I have $25K cash for a down payment and can add $20K/year ($1,600/month) toward payments.No W2s, I've looked into building a small home right away and using a bank statements loan (have about 8800. monthly income) , but with 9%+ interest rates, it’s beyond my budget.Is there any sort of creative financing ideas possible or private lender possibilities?

Or roughly 3X the entire income tax collected by CA last year.

Yes the average American income is barely $60,000 and most of people on bigger pockets make more than that and a lot of people make that much in a month. 

If the rental income doesn’t sufficiently cover the debt payments by their standards, they’ll limit the loan amount, even if the property is worth more.You could try a few alternatives:•Look for lenders who specialize in commercial real estate and have more flexible DSCR requirements.

I have equity on it and yearly i get around $10000 as rental income but the property is 1989 build and i am assuming that since its very old property the equity gain would be limited.

Its not a set price per unit or building but rather a percentage of income to debt.

Applicants have a prior eviction years due to unfortunate circumstance but good household income and noted they are in a better place financially.

If lenders reject a HELOC due to lack of W2 income, explore DSCR loans, private lenders, or partnerships to fund new investments while retaining your current property.

With SF, if it’s vacant, you have no income

If you’re not paying cash for properties, get pre-approved for an investor loan to understand your available credit.Time FrameThe shorter your timeline to achieve your goal, the more upfront capital and credit you’ll need.End GoalMost investing goals focus on replacing their current income, like $5,000/Mo.