Check it out here -SB9FAQ2.7l.pdf (lacity.org)

Hello Neil,I recommend checking for companies that invest in themselves by being members of local realtor boards , local and national associations like NARPM (National Association Residential Property Management). 

Plan on 65% LTC, at least one sponsor/borrower that has done a similar project in the past in terms of scope and dollar amount (inclusive of if you add a new partner willing to share in the risk/reward), 10% post-close liquidity (can't use loan proceeds to check this box), net worth equal to or greater than the requested loan amount not including subject property in net worth calculation (adding the other sponsor/borrower can fix this, too).

I'd check out Killeen/Harker Heights area. 

Check to see if your jurisdiction is SB9 friendly and check the zoning on the current parcels  ADUs can be rented long term regardless of owner occupancy on the property.  

If permits are needed, you must check to see if you can pull them as the homeowner or need a General Contractor to do so.

They are out 2x a year servicing and checking.

If the local zoning permits it, you need to check your condo/ HOA association next: most of them don't allow short-term rentals but some do.

I'm trying to help out other CA investors (I still think buying locally is better than an inexpensive property OOS where you can't check up on the property)I don't know the Peninsula well but expensive Palo Alto, Los Gatos, Cupertino would be Class A to me.

The huge negative is that you're not there in person to check on the properties frequently.