The premiums and deductibles are outrageous and if you’re flipping homes, you must buy a commercial policy (see the CEA website).I recently spoke with a representative at GeoVera, a company that provides earthquake insurance in a few states (including California), and she said that the policy would cover a vacant house as long as business is not actually conducted inside the residence.

Instead of focusing on what you want to learn, and hoping you will be a puzzle piece fit for learning that from someone else- chosen at random.

If I had to choose between the two, I would say:The benefits of having actual operating experience & expertise for MF and rental assets are far greater than the benefits of being a spreadsheet ninja.

The area as a whole is actually very affordable compared to other areas.

@Nathan Gesner is absolutely correct, but knowing what to do and actually doing it and doing it right are usually not all done together.

In fact, you can move the ownership now into and LLC or trust (without selling), which is actually probably a good idea if the plans are for you to inherit the property (helps with probate etc).I am a fan of “trading up” meaning selling one property to get into a better neighborhood or better house. 

Why would you prioritze getting your money back over actually making money?

Got to be careful and really clear here - its not an unreasonable ask - but its a totally different request (and will be challenging) to be requesting capital investment from a partner with zero actual monetary "skin in the game"

And have the value and the mortgage balance ready as that will be the ultimate piece of information to see if a cash out loan is even possible.  

My family and I wanted to make an impact bigger than just buying a piece of real estate.