I have two kids and a wife so it will be a sacrifice compared to what we are used to but totally worth it.

The “fastest” way to get there is obviously to use all the cash and leverage you currently have access to and get as many properties so you can start the snowball... 

Under the rules of Prop. 13, the Office of the County Assessor appraises new construction at fair market value when the improvements are complete, and the value of the new construction is added to the total assessed value of the property."

I'm looking at a portfolio deal with 3 properties (10 units total).

Insanely simple comment here, but I just want to make sure we don't miss the obvious....  

But ultimately, it's totally up to you.

We thought that might still be okay, so we looked at other loan options and realized the only other way was for me to put down about $6,000 in total for closing costs, deposits, inspections and surveys.

.$34M purchase7% preferred returnCash and Cash - 8.5% over 5 yearsWhen deal sold, the principal is returned and 70% of proceeds basedEquity multiple 1.94"Over 5 years, you're basically doubling investment."15.9% IRRUsing that -- and some if the info seems contradictory to me -- how do you simplify to, "If I invested $100K here, assuming their numbers are true, I could expect to earn $XXXX each year and $XXXX total after 5 years"?

Single-family home sales in August totaled 6,818 transactions, a 0.8 percent increase from August 2017.

Do I have to hold 6 months in total or after renovation before refi.