Thanks again for your input, and I'll probably reach out as I get further along in the process.

Where do I begin to learn about the cost associated with the 3 - 6 months of expenses and the inspection process? 

Private Money or Hard Money LoanHow it works: Short-term loans from private or hard money lenders to purchase the lot and finance the construction.Benefits: Easier approval and faster processing, focusing on the property value rather than your income.Downside: Higher interest rates and shorter loan terms (typically 6-18 months).

We haven’t really felt the effects of it yet but I think that is mainly due to the timeframe it takes for them to process claims and emotions from the devastation.

If your goal is financial independence, then selecting an investment city is a straightforward process due to the income requirements for financial independence.

Though, this process will be the same for the other state (if you created a CA LLC you may need to register it as a foreign LLC in the state in which you are doing business/holding property).

Congratulations on starting the process of becoming an investor!

@Aaron Bard- plenty of  lenders  offer  DCSR loans ...contact a  few  for  quotes ...also - dont  pay  any  lenders  at the beginning of the process 

In that case, would the renting process be a bridge to help you retain the home for future personal use? 

We have only 2 criteria for the order we process applications: 1) nearest move in to the date unit is available to be rented 2) order that the completed applications are received.If we had a unit for rent that would be rent ready Jan 15 and have multiple applications, the application processed first is the one who can move in the fewest days after Jan 15.