Both units are currently vacant, so I have flexibility to include this in new leases however I need to.

And You should definitely do by code, it will give you the flexibility to legally rent out (as you may already be aware that oakland is subject to rent controll) and it will definitely give you the higher value on your sale exit. 

Not a large job by any means but I'm flexible. 

The experience in the group helped to have the project completed but remembering to flexible with numbers and not to agresssive makes it easier to deal with the unforeseen costs that lay in the shadows of such a project.

If you consider a "soft" brand (Marriott has the "Autograph Collection", Hilton has "Curio" and 'Tapestry", Hyatt has "Unbound", and there are others), you may find more flexibility overall.On to your concern about being stuck with one company. 

This platform provides the same level of investment flexibility as the Solo 401(k).You do not need to do 1031 exchanges in a Roth IRA. 

Since they know your market and are local, they'll likely be more attentive and flexible with your own initiatives. 

Obtaining bank financing is going to be more scrutiny and less flexible usually than using private money, but again, it's project dependent when it comes to ground-up construction. 

@Dave Gibb, I don't have an answer about your Canadian status and how that will affect your ability to borrow, but I agree with the post above- a HELOC should be within reach for you, and it's the cheapest, most flexible form of capital you can get.

This allows you some flexibility if the relationship worsens w/o waiting another 12 months to deal with it.