First off I would not be mislead by price per sqft, it can mislead you and cost you thousands.https://www.biggerpockets.com/blogs/8050/49618-pri...Use what has sold past six, seller motivation, what amenities, location, cost of repairs, area rent rate, etc.True market value is what a buyer will offer and what a seller will accept.

That is the accepted and conventional wisdom that we have been taught; i.e. to be debt free.  

But I'm not in CA, so I dont know if something like that would be acceptable.   

I plan to reach out to my local REIA today and attend my first REIA meeting the first of June (pending my acceptance into the association).

I assume that the lender will accept my personal emergency fund as a factor towards the 6 month mortgage cash reserve?

Like it or not, and most of us - including me - do not, there is no longer anything simple, or quick, or easy, about accepting payments that end up allowing the payee to own something.

We got an accepted offer for a duplex in Point Richmond this morning.

The IRA is treated the same way as your current IRA for tax purposes, but you will have the ability to invest in assets such as real estate that are not handled by the mainstream brokerages.There are two types of self-directed IRA plans, and a lot of good info here on BP on the topic.IRA Custodians hold accounts and do the processing, but just have a different business model that supports documenting the IRA's investments into things like real property, notes, etc.  

Another few days went by of negotiating and she had accepted and signed the contract.

The current tenant agrees to move out within one month from the day the offer is accepted.