This is a picture was taken 2 days ago by my contractor in front of my property.So long story short Derek, there are more than just financial returns as to why people invest.  

If you got diddly-squat for financial capacity, there is a lot of risk of something going bad during operation of the property.

On the other hand, investing in some repairs (if financially feasible) might significantly increase the property's market value.Remember, each property is unique, and what works for one might not work for another.

Generally if you are up front about the intention and the members are disclosed along with the membership interests and members personal financials underwriting can proceed with the formation docs to follow.

@Christopher Mooney - I house-hack a 2 Unit Building in Bayridge Brooklyn which is a 45 minute subway ride to Manhattan Wall Street Financial District (a 7 mile drive).

I live in CA but am open to investing anywhere that makes financial sense.

CA has no financial capacity to fill that void, not a chance.

Retain a cash reserve to cover vacancies or downturns, and align with your long-term goals by consulting a financial advisor.

Absolutely, it's clear you've put thought into your real estate journey, and your aspirations for financial freedom are commendable!

Your dilemma boils down to two priorities: maximizing your investment growth versus creating financial stability for your personal residence.