So, I called the appraiser and explained that I would meet him on site to go over the paperwork.  

@Drew Sygit,  is right on. 

I live in San Diego and am trying to purchase my first investment property I have about 150K to put down but am struggling to find deals that meet my price point. 

Speaking of iteration, allow me to share with you the iterations and processes we go through in our Multi-unit Acquisition Program: After a client gets pre-approved for financing, we go through multiple deals to find the best ones that meet our metrics.

.  --- From the zoning code it says, an RM-2 zoned lot can have "1 unit per 2,500 sf. of lot area"If you don't meet that lot size requirement you'll need to make a request for a variance, then post notice about the desired change in front of the building.

I am a newbie to REI, so all I can offer is welcome and I hope your REI journey helps you meet your goals!

Attend local real estate investor (REI) meetings and get to know people.

Nothing wrong with negative cash flowing properties provided it meets your investment goals. 

Partner with an Experienced Builder – Bringing in a partner with a track record of SFR development could help meet lender requirements. 3.

But tax wise just here to note if you buy a 4 unit as a primary when you go to sell (if you meet the requirements) only 1/4 of the gain could be excluded under the 121 primary home sale exclusion.