With careful planning and local insights, Richmond can be a solid addition to your investment portfolio.Good luck!

Additionally, for the AR llc, do I need to register the LLC in California as a foreign company?

Because of the additional income I am producing through the consulting business, I am afforded the opportunity to invest money in real estate.  

Mortgage lenders will qualify you for a higher purchase amount for multis than they would on a single, because they will count the rent you will be making on the other units as additional qualifying income for your loan application.

In addition to that, building your network is key.

Additionally if you're running an active business in the IRA the income will have to pay UBIT.   

Your LTC leverage is also very similar to a bank construction loan but between origination fees and interest charges you will incur  ~$20,000 more in finance charges during the life of this renovation project.

So I disputed the additional charge. 

Quote from @Chris Seveney: Quote from @Devin James: In 2021, we saw buyers upgrading to larger homes, taking advantage of 3% interest rates to afford an extra 300+ square feet.Today, smaller homes are selling much faster as higher rates make additional square footage less affordable.While rates are historically average, I don’t see them dropping significantly.

Would be great to reconfigure the lot lines on the two additional parcels so they'd both meet the minimum to build.