Maybe we can do seller financing for the $172K and then get a traditional mortgage after the fact with delayed financing?

I'm about to put an offer on a MF in Rensselaer and will definitely be needing a handyworker & painter for some light cosmetic work.

Simplified ManagementFor those managing multiple properties, AB 2622 streamlines operations by expanding your hiring pool and removing the red tape often associated with minor repairs.Why It Matters for TenantsTenants also benefit from AB 2622:Faster Maintenance: Minor issues like plumbing or lighting can now be resolved promptly.Fairer Move-Out Costs: Affordable repairs mean tenants aren’t hit with inflated charges for damage beyond normal wear and tear.Things to Keep in MindWhile AB 2622 makes maintenance easier, landlords should still vet unlicensed workers carefully, ensure proper insurance coverage, and remember that jobs requiring permits must involve licensed contractors.AB 2622: A Win-Win for California’s Rental MarketAB 2622 strikes a balance between flexibility and accountability, making it easier for landlords to maintain high-quality rentals while fostering better tenant relationships.

Selling an investment property, especially one with a low interest rate, shouldn’t be taken lightly.

Theyre great products for self employed borrowers who will not qualify for traditional loans, but there's a premium for that convenience.

There can be a lack of natural light but it can be designed for it.

Working with an RE attorney provides peace of mind at a fraction of the traditional commission structure of the RE. 

Honestly, I've given up on finding cashflow anywhere close to the city due to rates and prices, BUT some other opportunities you may want to consider are:Live in flip - mentioned earlier in this thread, always a solid option in any market.Condo conversions - good money to be made from this and since they're a little trickier than a traditional flip there tends to be more inventory available that would allow for a profit.ADUs - come February 2nd, ADUs are allowed BY RIGHT on any SF property in the state, owner occupied or not.

Do you need cash flow from it for income or will light to no cash flow work if you can groundswell appreciation on a good asset?

I talked to my lender contact and, as Kerry mentioned above, it's pretty uncommon that a traditional lender would offer a HELOC product on an investment property (non-primary home).