I was further thinking of using 2-person LLCs (my wife and me), due to the greater liability protection they afford over 1 person LLCs. 

How does the already deep in debt CA afford to tack on $50 BILLION in debt service?

Which is also one of the 3 fundamental needs of a business most often (customers, product/service, place of operation). 

Section 8  rates (and lower) will also give you a rough idea of what your market rent will be.Yours is an object lesson in the mistake of buying what you can afford up front rather than what is a good opportunity.People just starting out should only buy local, that they themselves can inspect and get a feel for.

High property prices mean fewer people can afford to buy, so more people rent.

AI is good for a first draft of things, not for widespread usage.People are looking to use AI to move quicker, but it only makes you or your product more robotic (artificial intelligence and such).

If the AI/software could break down the offer in laymen's terms for the seller, much like a listing agent does, then the product could potentially be very beneficial.

This is a growing trend in rentals to increase cash flow and help your community with affordable housing! 

+I've researched something called an FHA Construction loan in terms of financing this project, but it seems that most large banks don't offer that product.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.