And, there is a safe and straightforward way to achieve financial independence, but it is not easy.

I'm also hedging my bets by working with multiple local or regional banks.

While the above concerns are legitimate, there are some popular but unfounded generalizations about undocumented persons that a landlord can safely exclude from his or her rental decisions.

You're best bet will be to read through the Atlanta specific forums found here: https://www.biggerpockets.com/...  

Many capex items are less than the $2,500 de minimis safe harbor and can go below NOI on the P&L (and get fully deducted on your tax return but not included in the property NOI for performance or lending purposes).Hope this helps.

Bay Area SFH investors are mainly bet on appreciation, and the long term rental not able to CF. 

If you really like your area and still anticipate appreciation, higher upfront, down payments will keep your investment safe if there is ever a market correction.

As @Bryan Balducki mentioned house hacking is a great intro, and safe way to start your investment journey.

Areas we would feel safe in.

Its not safe to hold on to cash right now that much is a given, the question is less whether to buy and more what and where to buy?