Decent purchase price to rent ratioSome of the areas I'm looking into are:HaywardSan LeandroOakleyConcordPleasant HillBrentwoodTracyMantecaTurlockModestoSacramentoMy concern about some of the areas specifically in the Central Valley (often recommended here on BP) like Fresno, Turlock, etc, is that looking at numbers the appreciation doesn't seem to meet the mark for me (purchase price to rent ratio is decent, but equity isn't very good), so I'm generally focused more on the SF Bay Area.Any recommendations on cities or areas would be extremely helpful. 

Also if you have very good banking relationships you might get your local community bank that you have all your accounts with to do a loan..

You are in a good state for investments.

I have done my research and feel confident the properties will still cash flow with Long Term Rental rates in the area, but will cash flow a much higher rate if the STR rates on the estimators are accurate.  

With the region's expanding infrastructure, business development, and population growth, it is well-positioned for long-term profitability.

Try checking out some local meetup groups in your area.OC Real Estate Investor Networking - Propstream Demonstration (biggerpockets.com)Good Investing...

@Ellen ChengThat's a good question.

I was wondering if anyone knew of a different part of Texas that has a good ratio of cheaper Housing and Higher payment standards for the section 8 program. 

In your proposed situation, here is what I would do:1) Make sure you have a good/solid/reliable contractor that can actually do the work and has capacity to handle the project.2) Apply for the max HELOC and get it established. 

As long as it's a good deal