Welcome @Sartaj Ghai,Sounds like you are off to a good start and have the right long term mentality to go far with this!

Home Paid in Full and will become a long-term rental.

I hope many others see this and understand why I post 100 X a week, never do business without a team in place that has a long-term mutual benefit. where in oh 

The pre-foreclosure status is to be cured before the end of escrow, whenever it happens.

Get your loan pre-approved to make buying smoother.

So far i've received referrals for Cresset and Origin Investments but both are longer term developments with minimal cashflow for 4-5 years.

Unless you are local to the market, I would consider elsewhere.I think Charlotte long term is a great market, financial hub, good airport, population growth.I think if you commit to any of these markets, you will have successGino 

I understand that short-term rentals are only allowed in the Commercial Zone and Historic Core Zone.

There's no set point to stop; it depends on your investment goals and tax strategy.Considerations: Consult with a tax professional to tailor this strategy to your specific financial situation, investment goals, and long-term plans.

While reading your post I was thinking "sell the Cali properties", but with 3-4% interest rates (and I'm assuming those are long term fixed rates) you will be best off to cash out refi (non-tax event) and use those funds to buy multifamily.