Purchase price: $200,450 Cash invested: $16,000 Sale price: $319,000 Contributors: Peter Vekselman Partner Driven, in collaboration with Seth Choate, successfully completed a deal on Spruce Street, Modesto, CA.

Are those units cash flowing and you are banking on appreciation also?

I am not expecting to make much (if at all) cash flow right now but do not want to have a -ve cash flow.  

It's my only investment property purchase and it has cash flowed since day 1, not much appreciation though. 

I will have access to ~1M in cash for down payment and closing costs (I would also have reserves, separate from this capital).

Here’s the REALITYWhile I compliment you on your ambition and drive, lenders want the borrower to have their own cash in the deal, not borrowed money for down payment.  

If real estate is just a side gig and finding deals is tough right now, it might make sense to hold onto cash and wait for a better buying opportunities.2.

I have also looked into small apartments 4-10 units, but found they have an even harder time to cash flow with current rates.  

Having a team in place is essential to long-distance investing.

This is true but 1) the problems in LA has extends beyond the city's core and 2) the city's core is essential for the city's reputation, which in LA has nosedived which will make it harder to lure in new companies or even keep ones there which are considering moving.