If you own (2) properties free and clear you could simply do a cash out refinance. 

Investing locally in the Bay Area will come with higher acquisition costs, but appreciation can still build wealth long term, so don't be weary if you're property doesn't cash flow right now the bat.

If anyone tells you that you can get 15% cash-on-cash it's either a scam or ultra high risk. 

Eliminate debt, establish a budget, and save.

I've been buying SFH's out of state all cash as long term hold rentals.  

Because cashing out properties now takes 12 months on title, brrrring has gotten a lot slower for me.

Such a situation is recoverable if there is enough time for a market recovery and the cash flow is at least break-even (or there is enough reserve cash to cover negative cash flow until it can turn positive). 

Purchase price: $305,000 Cash invested: $80,000Single Family home in a 55+ community. 2 Bed 2 Bath, attached 2 Car Garage.

Very hard to find multi-family properties that cash flow in this A market. 

I generally prefer higher since I don’t plan on putting in small claims, it’s basically just for catastrophic loses and the savings in premiums over multpiple properties for multiple years should balance that out if I have ever have to use the insurance.