I'd suggest asking your lender to mock up what it would cost to get your rate to 5% and then do a cost-benefit analysis to determine if that's the best use of your funds. 

You can go heavier in one category but that's up to you on which on you'd rather invest more in

I was a RE broker doing acquasitions for a large syndicator in the 80s in San Francisco / Sacramento market.. and thats what brought down their billion dollar buziness taking reserve money from good projects to prop up losers..

What if you get into the market and absolutely end up hating running a short-term rental?

Hi Nathan, Thanks for reply, But I am from Canada and my city doesn't show up there.

Following up consistently.

I do have a contractor that has an amazing team that can do everything from the ground up to plumbing and HVAC.

You're signing up for an absolute meat grinder of a job with the hope that you can someday stabilize it and build something that could be put on cruise control or sold.As for tactical advice, tap into your network and alumni network.

I would like to know if there are any big real estate clubs in the east bay that I can network and hold monthly meet ups?

Without a cost segregation this could be difficult unless the roof has been replaced after the initial purchase.Yes, this exact example came up on another thread https://www.biggerpockets.com/forums/51/topics/1208120-roof-...