You want an LLC for ease of administration, trusts are kind of annoying as they can act as their own taxable vehicles as opposed to single-member or pass-through entities that an LLC can provide.

With minimal risk and a clear path to profit, this deal aligned perfectly with our strategy of maximizing returns through strategic, well-timed real estate investments.

Its always good to have 1-2 mentors that can help you walk through your first couple deals. 

Hello Tim,I have no experience with California or that specific code but I can tell you that anywhere you try to add a unit it is going to need to fire separated through any means that the fire could spread. 

I'd like to maximize my income stream somewhat quickly (5-10yrs) while also obtaining monthly cash flow properties.

Interest rates and insurance premiums are breaking some deals.For your cash flow estimates you should double or triple your estimate for insurance and see if the deal still works for you.

Zach, have you been able to get financing through local banks? 

The home needed targeted renovations that aligned with our strategy of maximizing returns through smart, cost-effective upgrades.

All have a generally cheap barrier to entry and have potential for cash flow.

The Bigger Pockets Bookstore has a book on mid-term rentals that walks you through every step.