Especially in California, where recent laws have vastly expedited permitting for subsidized housing, you will likely be getting an ROI years sooner by going the LIHTC route... that's even though the financing is way more complicated, since all that work is on them.

I know why I have yet to get a permit.

A zoning variance that we didn't think we would need resulted in a 151-day waiting period for building permits.

You need permits for things like roof/HVAC which have no value, and a contractor who prices his profit margins added in.

Why would a licensed general contractor ask a home owner to pull their own permits?

How is pulling permits, working with the City on construction, even building ADUs?

Smoking: Smoking by Tenant, Tenant’s guests, family, or occupants ☐is permitted X not permitted in the Unit or Property (including, but not limited to, the garage or outdoor areas of the Property).

And I know inspection/permitting makes the whole  process a little sticky from time to time.     

I have a couple of clients who went from a duplex to SF but nobody who is currently going the other way.Your other ways to research this would be to look at the zoning on your property, go to the city code and look at the permitted uses, conditional uses, etc. 

Don't over-tighten the bolts to the floor.In most parts of the country, ripping out a tub and floor would be considered a bathroom remodel and would require a permit and licensed plumbers.