It was a learning experience but I made it work in the end.Mine was a 5 unit commercial building that needed a gut renovation, similar to yours. 

Build an ADU.

My business partner and I purchased a commercial office building a few years ago with creative financing.

I’m drawn to real estate not just for financial freedom but to build a legacy for my family while contributing positively to communities.

The best way to connect and learn is to be in rooms where it's going down.In terms of captial your best bet is to focus on a primary income that cash flow sufficiently, saving as much as you can and doing something real estate related so you can get familiar with the industry.

Building on existing land helps eliminate the issue of land scarcity, which is a significant challenge due to California’s high real estate prices.

Being a part of the featured agent program has helped generate leads and build relationships from those leads. 

Your best bet is a property on water and sewer in a non HOA community and either convert the garage to an ADU or Build a separate ADU .

Have been searching for some listings for apartment buildings.

It looks like you are doing an affordable build based on the cost but hard to say since you didnt provide info on the build itself such as square footage and finishes.