Cash flow is difficult here in California, and so I'm looking for opportunities that have strong appreciation and long-term growth opportunities with strong tenant bases to complement my long-term investment strategy.I appreciate any insight and stories.

You likely only made a down payment of 3-20% ....but you still get to write it off on the full value across 27.5 years.So 400k/27.5 = 14,000 ish a year of a write off where during the year you didn't need to incur an actual expense, no cash outflow. 

STRs and MTRs have higher cash flow than LTRs but they require more work. 

But also more cash flow, more potential.

Investors relying on financing should budget for extended higher rates and ensure their deals still cash flow under current conditions.Scenario 2: Cooling Inflation and Rising Jobless ClaimsIf CPI shows inflation slowing while jobless claims rise, the Fed may begin signaling rate cuts sooner than expected.

Current goal is focused on growing a portfolio and reinvesting cash flows.

I like to find owner finance deals and just finance the down payment for as many years as I can for cash flow.

It may make less cash flow/ per month but in may cases in the long run after PM fees and Repair costs, many times it turns out similar.   

@Gregg HuttonIf I were starting over with limited resources, house hacking or the BRRRR strategy would likely be the best focus for long-term growth and cash flow.

I paid an estimate of about 25k for each in cash.