OC California is very expensive so investing out of state can be a good option.

There are DSCR lending options in your personal name.

But I would remain open to long-term rental as an option as this seems like a more stable option in terms of income, again this may be my inexperience talking.However, I have always  been somewhat risk averse and investing in real estate is always a big venture, in my opinion/experience, in terms of capital.

My vote is option one.  

Today I had a heater issue and snow company that was late handling commercial before residential so we ended up clearing it.Open to each option.

Remember your situation is unique so it's important to consult with a tax advisor or CPA to explore all available options and ensure compliance with tax regulations.Thanks!

For funding, explore options like FHA loans, personal savings, or creative financing, and focus on New Jersey markets that align with your goals, such as Newark for rentals or commuter towns for house hacking.

From a liability perspective I am anti-glass tops ever since, there way too many other options.

I know that the regulations in Beverly Hills is "friendlier" to landlords than Los Angeles and I'm exploring the option to convert a multifamily apartment into condos. 

Quote from @Blake Winiecki: Figure out how much you want/need to earn, then reverse engineer it to see what options are available.