If this property won't cash flow as a long term rental, you might want to sell and 1031 exchange into a more profitable property.

The last one, however, started with many people from two certain neighborhoods, gathered by a local non-profit, who spoke much about affordable housing, being displaced, etc.

Adding the current mortgage and utilities would be roughly $1,350 resulting in a profit of $650/mo.

Determine the most likely sales price of the build (factor in the cost of the land also) and include all selling costs to arrive at your net profit and ROI. 

What do you do with the profits from the company to avoid income taxes.

Do you want a company that will keep the long-range investment objectives in mind or one that focuses on today and today's profit alone?     

I also know finding a quadplex as a first property in Orange County isn’t going to be easy, but I’m open to hearing people’s thoughts.My goal isn’t to turn a profit right away—I know properties here might not have positive cash flow for a few years.

Section 8 can be very profitable if done the right way, at scale, by an experienced operator, but I think it's one of the hardest strategies to start doing because of tenancies and government involvement.Most new people just think it's an easy government check and there is nothing that could be further from the truth.

Looking for a creative way to either turn my current property into a rental or a flip or any other way to make a profit. 

Also the school districts have been increasing property taxes in A LOT of investment properties thus eating some of our profits.