A) The $40K cash on hand was not including my emergency fund and merely represented what I wanted to stick to as a low ~10% DP or to be used for a small refresh/reno. 

CA, in total continues to lose 100k's of population and continues to add onerous legislation, including the state rent cap they passed a few years ago (doesn't apply to sfr's though).I am not sure why anyone would want to jump in the deep shark infested waters right before feeding time, unless you have a clear proven strategy, or a very long time horizon.

Maintain - includes taxes and insurance?

-Interest rate of 5% is much lower than market interest rates. 7-8%+-There are no capex reserve considerations included. 5% is a starting point.

Would be curios if folks have also just included the cost of utilities at this price and left it unpermitted.

@Brandon Stelling As a military veteran with 100% VA disability benefits, you can leverage VA home loans to purchase properties with no down payment, no PMI, and favorable terms, including multi-family properties for house hacking. 

In Philadelphia area there are several REIAs including Diversified Investors Group (DIG), Delco Property Investors (DPI), and South Jersey REIA (SJREIAA) just to name a few.

I'm glad to be included on this platform with like minded interests.

We have also negotiated attractive loan structures with many lenders including reduced fees for our community, free refinancing, lower rates, unique portfolio options, etc.

So if you move your IRA assets to 401k, including both rentals - you can finance them in the 401k and be exempt from UBIT.