If it is purely and investment, then a LTR is a very viable option, as there is good demand for LTR. 

Properties typically on a land lease in communities like this are more difficult to get financing on - so not only check the values but also time it takes for these properties to sell to understand your holding costs

Some of the family-business real estate companies are starting to move from the (typically) patriarch who started the company in the 90s into the kids who are in their early 40's +/-.  

I am looking at different loan options but to break even (not having to put any money of my own in the house after the initial down payment) the current down payment required is that much. 

Many opt for other investing methods in their SDIRA like private lending, crypto, private equity...anything except collectibles and life insurance.Note that a Solo 401k is exempt from UBIT on leveraged real estate so if you have self employment activity and no full time employees save for you and your spouse you should consider the Solo K as an option. 

Most DSCR loans come with a prepayment penalty that is typically 5% for the first year, 4 points for the second, 3, 2, or 1 pts for each year.

I know that the regulations in Beverly Hills is "friendlier" to landlords than Los Angeles and I'm exploring the option to convert a multifamily apartment into condos. 

I’d focus on property types that align with my strategy, leveraging financing options that fit my budget.

Typically, if they can make it work as an STR they go that route because it almost always generates the most revenue.

That being said, your typical cost of capital is as follows:EquityAgency debtBalance Sheet local lenderDebt FundPrivate DebtPref EquityHard Money DebtBookie/Loan SharkOther things that will impact capital sources: are you wanting to finance the improvements, or will you pay for those from equity/cash flow?