I really want to specialize and focus on investment properties with positive cash flow potential.

I hadn't assumed a Keller Williams would be so investor focused.

Stay focused on that and not all this "story".I'll stand by the advice to find a landlord/tenant attorney.  

My partner and I are from CA and newer to REI, we are focusing on the Indy market and working with a good realtor.

You don't need a business plan, channel that focus/energy to finding a deal and running the numbers on properties.

If anyone is knowledgeable in this focus area or knows someone who could help me get started I would greatly appreciate any help, tips and advice!

The 900 sqft existing commercial building will be converted into a work/live unit (not counting towards residential density), while the density bonus would allow me to go up to 9 units, making it 10 in total (1 work/live + 9 unit new residential).My original plan was to do traditional multifamily development, focus on best yield for the local rental market in Oakland (smaller unit sizes, mostly studio, 1b and 2b).

Like others have said, I focused on my sphere of influence.  

I will probably focus on some of the 3 bedroom 2 bathroom households in that case.Can you say anything about the area in particular? 

The general idea of fliping/ BRRR is to get to 70%-75% of total cost vs ARV so you can make some money selling or do the cash out refi to get your funds out to reinvest.If you are just planning to buy and hold I would focus on finding a turn key property in the area you described , also Central Valley , Sacramento , Antioch, Pittsburg are perfect places for cash flow properties .