If this is the case then typically you only have to comply when you make alterations.2.

@Nate MarroquinYou're in a great position to house hack before your income increases, and you have multiple financing options to make it work.

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

The struggle comes when you plan to sell, pay close attention to how the bank would treat the loan in the event you would sell.Even though its a bit more work, banks are typically open to these loans as it provides them with additional collateral in the event of default.  

While I’ve considered cash-out refinancing or HELOCs, the high rates make these options less appealing.I’m debating between using cash to acquire more SFRs or diversifying into mixed-use retail properties.

My vote is option one.  

If you need an option that isn't as document heavy, a DSCR cash-out might be a viable option if it's an investment property.

Would a home equity loan be a viable option in this situation, especially in regards to eliminating some of the red tape I'm running into with a refinancing an scorp-owned property?

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.

I put in 3% for appreciation (which is typical for Indy outside of 2018-2022) and 4% rent increases.