The short answer is that you can absolutely do a cash out loan on an investment property but working with any large bank is out. 

The short term goal (next 6 mo.) is to find and close on my first multifamily deal here in Southern California. 

All you need to do is put it into an investment that comes out in a short period...with friends ($$$$), then put it (and the friends) back in again, and keep repeating this. 

RE isn't for everyone, but from my experiences most people that quit do so because they didn't make the kind of money they'd hoped for in the short-term, even though there isn't anything short-term about RE. 

However, for a short-term fix'n'flip, it might be worth it, personally i'd be nervous on a longer term investment right now.

Give a very short window for them to leave.

One option is long distance real estate investing. 

I'm looking to do a 1031 exchange on my owner occupied duplex in Los Angeles, where the upper unit was my personal residence for more than three years and the lower unit has been used as a long term and short term rental.

I've read books and listened to the pod cast quite a bit, so my question is what advice would you give to someone new that they don't tell you in the books about long distance investing.  

Here is a short story / background: I own an owner-occupied Duplex Rental Property.