>but quickly realized that trading time for money wasn’t going to be enough if I wanted to create wealth while living in California.I think you are entering a tough market.  2.5 years ago (before interest rates doubled)  it was a much easier market.  

no, but just understand that this is what's happening and that it's easier to push theory than to actually execute a strategy in real life and make it work. 

Once you have strong prospects, initiate the refinance application and coordinate the closing as close to the target acquisition as possible.

I figure I'll get mayhe 250k from the refi based on 5plex noi and comparables.I'd like to take a loan for the other 350k for example to meet the 10% down payment on a low income building hud loan.Is there an easier way to get into A higher unit commercial building? 

***Fake mortgages are being filed against properties in Cleveland and they are targeting out of state investors.

I don’t do that much of this type of thing anymore because I’m busy enough working on easier deals now. 

Who is your target tenant?  

Buy the rock solid rental and get your appreciation, cash flow, depreciation, principal pay down, equity capture on a discounted by and forced appreciation gain for a well targeted rehab.  

Realtors, investors, future investors, lenders, wholesalers etc...I want to start investing eventually, it'll be easier with a team.

I mean that market can melt down like no other because as I have said thousands upon thousands of vacant lots that can be bought very cheap any day of the week.. so perfect target for these builders to suck in the rental prop crowd with low down payments etc..