Could I fund the purchase using a bridge loan with the assumption to sell my existing home ($1.5M)? 

Same goes for number of LLCs and what to fund them with, since bear in mind that CA tends to be more cumbersome and expensive to have LLCs than other states.California is generally more cumbersome than other states when it comes to taxes and filings.

The location and access to amenities make it a super desirable area so you need to keep an eye on inventory and competition.

If you had a decent war chest of funds for purchase and rehab, the area could be good if you want appreciation for the next couple years. 

This demonstrates a significant difference of $132,000 in earnings by leveraging your funds and investing in multiple properties.

Due to the low amount I will owe to the hard money lender I want to get a HELOC to find and fund other deals but when I am not actively doing deals I want the cash flow.

Invest in Opportunity Zones: Reinvesting capital gains into Qualified Opportunity Funds, which invest in designated low-income areas, can defer and potentially reduce capital gains taxes.6.

From my experience, properties in Flood Zone A aren't always dealbreakers, especially when they're in desirable locations like lakefronts.

This is what I think I know:- The borrower can choose to pay off the note at any time (by selling the property or just paying off the loan with other funds), so it is important that the legal balance covers my investment and some profit- The borrower could file bankruptcy (can someone confirm that this will only cause delay, but not jeopardize ultimately collecting the legal balance of the note)- Most of these DOTs will have a rent assignment clause, so I could try to enforce that and collect rents from tenants (essentially manage the property) while I am holding the note and trying to foreclose.

You can do a 12 month cash out bridge which will pay off your old loan and get you funds to do the rehab as long it appraises high enough