I wont mention who they are but this area carries a whole lot of weight in this country .  

My capital is thin obviously, so I'm asking a lot of questions, weight all legitimate options, and getting very creative.

I'm sure it depends on the exact figures and weights but does anyone know how many mortgages you can have at once?

Certainly most folks are probably over weighted in stocks simply because their 401Ks at work and IRAs are geared, marketed to that asset class.  

Sorry but "handshakes" do not hold weight as they use to. 

In your situation, I'd guess that the property needs to be purchased at about 70% of it's income approach, then factor in the other two methods, with the greatest weight (but not entirely) being given to the income appoach.

Duplexes, tri's, and quad's you are competing with owner occupants who want to live in one and cover the mortgage with the rest.Many inexperienced buyers overpay everyday of the week.4 units and less more weight is put on the comparable sales approach and not the income approach.If you buy a house in a very nice area then you will likely get a nice appreciation upswing and equity over the years without having the headache of the tenants.

Financials can easily be manipulated on other forms so do not put too much weight on that and verify deposits into the business account.

4 units and under for appraisal they go by the comparable sales approach not the NOI and cap rate.5 units and up for appraisal the most weight is given to the income approach.Residential loans of 4 units and under and commercial loan of 5 units plus are totally different in lending and regulations and criteria for funding.NOI is (net operating income) and this is what is left over after expenses but before the mortgage.

Rather start the relationship by saying, "Yes, I'm from out of state (try not to mention California in first conversation) but I'm here to setup up business, just wanted to introduce myself and let you know I'll be checking in periodically to tell you more about my business".MentorThis is not mandatory but is definitely worth its weight in gold.