The pitch was basically $15,000 for 0.5 acre parcel on an under-performing commercial coffee farm his group acquired with the expectation of a conservative 13% annual yield.

I’m a beginner but do have a rental in Riverside. 

Both seem to have strong real estate markets, but I'm not sure which one would be better for a beginner like me.Can anyone share their experiences or insights on these markets?

Full interior rehab was performed.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

Hello, I am a beginner at BiggerPockets.

We've had all kinds of mixes -- 1/1 condos, 3/2 condo, 2/2 SFH, and 4/2 SFH, and they've all performed well for us. 

That comment specifically relates to the investors who believe they are better protected by having a separate LLC collect rent and perform management functions independent of the deed holder LLC.

I've read through the General Plan and there is nothing else that broadens or limits this description that I can find.Generally speaking, does this mean that I should have ministerial approval to perform a condo conversion of these already-built-out units in the same sense that I would have ministerial approval to submit plans for a new construction condos if the land were still vacant?  

Based just on your DSCR calculations, it appears this property is significantly under-performing, or if it is operating well, then it is significantly over-priced.If your plan is to reposition the property, then you need a bridge loan or private loan to acquire and manage the property.