PPS: There is a search function on the FilePlace page (not the contract sub page) and searching for "lease" or "agreement" produces a number of state-specific results.

The 30 year note should produce more cash flow each month and you may want more cash in your pocket to save for your next purchase.

Basically just to have a property that produces some income and also gives me the ability to set aside some days if I want to go hang out downtown.  

In a high appreciation area, typically the market appreciation is greater than the depreciation of the rehab aging.In San Diego, the rehab returns are great and historically the ROI on financed buy n hold is near the best in the nation.In your plan, you will move from San Diego (at a financial cost as well as likely a lifestyle cost) to do BRRRR in an area that historically has not produced the ROI for buy n hold that San Diego has produced (verifiable fact) and is unlikely to have as great a return on the value add rehab as you could achieve in San Diego.I suggest before you move, you attend some San Diego RE meetups. 

All my investments are tangible and producing results to my expectations.

As such, they do not list on the MLS nor do they compensate out-of-brokerage agents for producing a buyer.

Obviously the heater worked fine before, and many times cities are doing this to produce new fee revenue, but I say do the work, in the long run it will be safer.

I own a rental that produces $250/mo cash flow currently.

You need to find properties that will produce positive cash flow without having to buy it with your own cash.

Just keep in mind, flipping produces ordinary income which is taxed based on your tax bracket.