Also, explore creative financing options that might balance your partner’s limited credit/cash flow without putting all the risk on you.If you're attorney can't clearly articulate this, maybe it's time to find a new one.

There's so many options but they all do the same thing (more or less).

If everything checks out, they could be a solid option for your first investment deal.

I have seen loan products that will let you purchase a mixed use property to live in the residential unit, but that is a specific product and you should consult and expert to see the best option for you and your cash on hand.  

Out of state investing in cities within a reasonable driving distance may be a good option. 

The mid-term rentals are also an option.

We do like the UPREIT option as it provides another exit mechanism for selling the DST. 

It's eating away every bit of cash flow from the property and then some.Both units currently have baseboard heating - which I've heard can be on the more expensive side of heating options - but I'm not sure if this amount is realistic for the area, or if there is a better heating option that I should look into for a reasonable cost.

There aren't many "short-term, get rich quick" type investment options in SoCal today. 

RI or NH seem like solid options these days as a Boston alternative.