I wasn't even aware of few things that were mentioned in this thread.Based on the responses, I have narrowed it down to following possible options, based on my objectives and preferencesOPTION 1: Invest in a MF in outlying areas of bay area such as Central valley, Gilroy/Morgan Hill or Sacramento. 

The reason being that the end buyer with an assignment would see your profit (the assignment fee) and might object to paying a large amount, so I avoid the risk by doing a double closing instead.

That's a great start, it's important to have a focused objective especially when you're just getting into this business.

Just because nobody catches shoplifters does not mean that there is "no requirement" to pay for stuff.We would not have had this discussion if you stated your experience more accurately, as in: "In my personal experience, you can continue to do transactions in TX with an out-of-state LLC without objections from title companies."

Even though my primary objective is cash-flow, I also like to be in a desirable area (like Raleigh) with long term growth potential.I’ve talked to several brokers to get a feel for the market and have been told that the cap rates are under 5.5% which is too low for out of state investing.

Conducting thorough market research, seeking professional advice, and assessing personal risk tolerance are essential steps to determine whether commercial real estate aligns with an individual's investment objectives.

Set Goals: Define your investment goals and objectives.

The objective is to house-hack to begin my real estate investment venture.

I would get specific about your objectives and work your way backgrounds to narrow in one a strategy.

Is this backed by objective indicators?