I figure I'll get mayhe 250k from the refi based on 5plex noi and comparables.I'd like to take a loan for the other 350k for example to meet the 10% down payment on a low income building hud loan.Is there an easier way to get into A higher unit commercial building?

>but quickly realized that trading time for money wasn’t going to be enough if I wanted to create wealth while living in California.I think you are entering a tough market.  2.5 years ago (before interest rates doubled)  it was a much easier market.  

Start attending local meet ups.

In the process of BUYING a PURE Option to buy a SFH subject to an existing loan (at a lower fixed long term interest rate)Let say the OPTION "Strike price" to BUY the property IF or WHEN the OPTION is EXERCISED is $300K The seller wants $60K to sell us the OPTION. 

I do like 2/1 buydowns in declining interest rate environments like we are in today, as it buys you time to wait for interest rates to drop.

Rates are now higher which will kill their cashflow and encourage them to cut their losses and sell.

Perhaps it's not as good as it sounds if I have to take out out such a big loan just to meet FHA standards.

I mean can I take a 600k loan to meet a 3 million dollar building's down payment and cash on hand requirements? 

You could raise your rates by $1 a night if you don't want it to impact your cashflow.As for linens not on beds: imagine a family packing for a vacation and cramming everything in a car, dealing with screaming kids on the trip, dealing with nightmare traffic and finally getting to the place and unpack all the crap. 

Hello Joe,Congratulations on your purchases, if you are ever looking for a DSCR loan, please let me know, we do rental loans down to 1.1x and up to 75% LTV on a cash out refinance, or 80% LTV on a rate and term refinance.