Many of the neighborhoods which intersect with downtown are experiencing waves of new residents looking to join in on the action. 

,I have sold and been managing properties that are near the MIA and haven't had any complaints from residents who are living in them.

Multifamily is considered residential since people reside in the structure. it's part of contractors license law, our testing is on it and violating can and will result in punitive actions.

The main reason I ask is because that is significantly below primary residence mortgage rates let alone any investment loans, if you can get rates like that I might need to make some changes on my end hahahTo answer your original question, assuming all else is equal long-term fixed rate debt is valuable. 

I was just looking into this, and it seems that Oakland will only allow ADUs on properties with a single family residence (not multi-unit properties). 

My plan was to keep the condo as my residence, but after a year, refinance to fund a down payment on a multi-family property, either out of state or in the surrounding NY area.

Land Use Codes and Building FeasibilityExample 1: Property Land Use CodesActivity Code: 4000 (Social, institutional, or infrastructure-related)Function Code: 1000 (Residence or accommodation)Ownership Code: 4200 (State government)Example: Regrid Property Example 1Example 2: Zoning DetailsZoning Code: T3Zoning Description: Sub Urban ZoneZoning Type: ResidentialZoning Subtype: Single FamilyOwnership Code: 1500 (Businesses and commercial entities)Example: Regrid Property Example 2Based on these land use and zoning codes, can I build a house on either of these parcels?

Investment Info:Single-family residence fix & flip investment.

@Kris TohovitisI wouldn't recommend using your cash to pay off the mortgage on your primary residence since you can likely get a better return on that money by investing it.What's your buying criteria for the multi-family property?

I have a HELOC on my Texas primary residence and am considering a house hack for my next purchase.