I'm trying to decide when or if I should transition from "building the portfolio" and acquiring properties and move to paying down the loans and building cash flow. 

If you build a good relationship with the banker they will call you when there getting ready to acquire another property.The two keys:1.

As I have mentioned before, we always try to stay with our "Team" whether sales, excavation, buildings, erectors, concrete, banking etc. 

I did reach out to one private individual that had a building listed in my area that was of interest, and although priced right at retail the numbers that were provided were so "high level" and lacking any detail that I didnt pursue it any further.

I've build a decent portfolio thus far (via BRRRR) but looking to be more competitive in HCOL area and increase the velocity of my returns.

We just signed one of our new builds and that is how they structured.

And of course those are highly difficult locations in CA for development and building permits..

First a cash snowball approach to build up your cash.  

I was part-time for 6 months while working a government job (no cell phones allowed in the building). 2 rentals closed in 6 months, no sales.

I had to go to zoning and spend thousands to get it legalized.Your situation seems as if it is zoned as a single family home, and it was split into 2 apartments with no building permits.He's selling the property because he has the wrong zoning, and is finding a bank or an investor who over looks the problems that will arise once they close.With the way things are with insurance, I wouldn't be surprised if your insurance company will not insure for two unitsgood luckGino