The land is zoned multifamily residential, so there is limited range for what can be done.

I'm seeking a loan that will allow me to aquire a property, do some light rehab to the existing single family home and also provide sufficient funds for the construction of an ADU in the back yard. 

What price range investment property you should buy in Houston?

Pay down and appreciate are likely sizable pieces if you are grossing 800K I’m guessing you have somewhere in the 400K range of loans and that 100-250K of that is pay down.

Myrtle Beach has a lot of oceanfront condos that cashflow nicely in the $125k - $250k price range. 

We're seeing tons of over asking price, cash, as-is offers even up to the mid 200k range. 

At this time most multifamily properties in Socal seem to be out of my price range / down payment, but I could be wrong.

You should have purchasing power-up in the $500-$600k range, some of the western suburbs like Cicero and Berwyn have decent cash flowing multi-units in that price range.Was there a particular reason you were thinking of buying a condo?

The rehab estimate sounds a little light for what is required, and is definitely at the top of the hard money range/70% rule range.

Since these properties in my targeted area can be found in the 50-70k range I plan to buy outright for my first property.