However, be prepared for limited inventory, higher competition, and possible compromises.

The Shadow Ln property presented a high-demand location and a competitive purchase price.

I'd go on ABnB and see what your competition is doing that you can copy.Maybe a Firepit out front (as long as it's not a fire hazard), maybe a cornhole set?

Assuming the Oakland rental market continues to remain stagnant/competitive with newer buildings going up, is property appreciation the only way to increasing wealth with my building?

The competition is fierce but I think you can still find great deals.

Sometimes when placing an offer --  the POS is not yet available - and when you place an offer you can make your offer contingent upon approval of these items... although in order to have a competitive offer in this seller's market you are basically forced to "assume" the pos violations once they become available (usually 2-3 weeks after it's been ordered) -- you should be able to tell if anything more serious might come up on the POS via your own personal inspection. 

Also, looking at slightly less competitive markets might open up opportunities with better cash flow potential. 

Metal is competitive with lumber construction cost. 

With fees doubling and competition heating up, you might want to rethink this investment.

Here are thoughts on building strong vendor relationships:1.Timely Payments: Pay vendors promptly upon completion of work to maintain goodwill and encourage continued collaboration.2.Fair Pricing: Negotiate competitive rates without undercutting the value of their services.