If cost prohibitive, I would operate under the assumption that renters are hard on things and you fare best with just basics.  

One interesting thing is that Landlords can now prohibit their buildings from being rented as Airbnb. 

I have a SFR in a HCOL area that could be a good candidate, but zoning regs prohibit multi family.

My understanding is that you are trying to purchase this property in your name, in this case you are prohibited from using IRA funds for down-payment. 

I'm finding loan and holding costs can be prohibitive to do flips for properties to be owner occupied in those areas even though the majority of homes on the street are already owner occupied.

Such conversion need not comply with the requirements of the following specific provisions of this chapter: (a) Section 13-196-660 (height limits); however, in frame buildings, four or more levels of living space shall be prohibited and in buildings of ordinary construction, with or without attic living space, five or more levels shall be prohibited; (b) Section 13-196-050; however, all dwelling units must comply with the exit provisions of Chapter 13-160 except basement dwelling units may have a second exit through a room containing a heating plant; (c) Section 13-196-670 (stairwell enclosures); (d) Section 13-196-680 (corridor enclosures); (e) Section 13-196-690 (dwelling separations); (f) Section 13-196-710 (basement ceiling construction); however, if the basement contains a dwelling unit the entire basement ceiling construction is to be wood lath and plaster of half hour construction; (h) Section 13-196-720 (heating plants); however, basement apartments are to be separated from heating plants with partitions of one hour construction.

Some of the things that can give you issues getting coverage for these types of policies:- Knob & Tube or Aluminum wiring- Flat Roofs- Tentants with prohibited types of dogs - Pre 1980's homes that do not have a Lead Safe certificate- Underground Tanks (active or inactive)These are just some of the underwriting issue we see.  

This is literally what I do, but I wouldn't qualify at my own bank(also regulations prohibited it).Any suggestions?

The law in CA is very clear that the sanctity of the bonafide purchaser's title is protected as a matter of law but unfortunately there is no law that prohibits the owner from suing anyway and when they do you have to defend yourself. 

And it goes on to say, "However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law."