There just isn't the market appreciation, population growth, or job growth in the area to make me take a hard look. 

My fathers trust stipulates to "divide or distribute property in cash or in kind or partly each"   I am going to take my interest in the property as 1/3 of the property and will be buying my siblings 2/3 interest in the home from the trust.   

Particularly with someone who is self-employed and trying to buy more property and take my legal deductions?

I would suggest that while you're waiting to get 10 conventional loans which will take some time.

You're the one that will be paying the taxes, penalties, and consequences if you take this route and it fails.

My company is veteran owned and operated.I am interested in working with investors in the San Luis Obispo, Arroyo Grande, Nipomo and Santa Maria areas, but open to outside areas in California.I plan on getting my general contractors, as soon as I qualify to take the exam, to become an ADU builder.

I would then take the remainder of your savings as you continue to work and invest in multi-family properties. 

You cannot cut locks, you cannot take possession, you cannot set foot on the property, you cannot make any improvements.

I've been actively searching for investable areas, with a long term view of reliable operating costs and proximity to the ocean or beach.

It takes a lot of capital invested to start making enough returns to match your current income.