My main questions would be: how long does the entire process take from applying to actually having possible tenants to start picking from, and how do they determine exact amount for rent (the amounts listed on the housing authority site seem way higher than market rent, I’m wondering if I will actually get those numbers or not)any other general tips or advice is also appreciated!

Making a larger down payment can improve your loan terms, but keeping some cash reserves is also crucial for unexpected expenses and future investments.

$370k capital raise with a bridge loan How did you add value to the deal?

Fix up the house and sell it and put the equity gains into a multifamily house.  

i do think it's still possible for the small investor to 'invest' in CA by house hacking. 

I have a guest house that my sister is currently occupying but will be moving out in the next few months.

Sell the current house (current mortgage at 3%) and use the gain for down payment and 1031 exchange for the new home.

Our only other option would have likely been a bridge loan for this size of property. 

More on DSCR loans loans if you decide to go that route: DSCR loans won't use your income to underwrite the loan which is what conventional loans will use to underwrite the loan.

I just listened to the latest episode of the BiggerPockets OG podcast where the guest was referencing conventional investment loans with a 15% LTV.