Additionally, you may look at less traditional financing options. 

Both options necessitate careful legal and financial planning due to their complexities.Renting out the property at a market rate of about $3,500 per month offers a different set of financial benefits.

Many options .

@Namal Burman San Diego is one of the top House hacking markets, if that is an options for you, it might be worth looking into.

If this STR business is viable, or if there are better options for shielding W2 and rental income, I am funded and ready to roll.

This option is flexible and suitable for ongoing expenses or projects where the total cost is uncertain.Tax Breaks on Cash-Out RefinanceInterest Deductibility: The interest on a cash-out refinance can be tax-deductible if you use the cash for substantial home improvements.

I understand HML have lots of associated costs to them but the main reason im considering this option is because the home is listed way below market value and is a cash only property.

@Karin CornilsThere are checkbook IRA options that use a trust instead of a LLC, which eliminates the CA franchise tax.  

A 203k Rehab loan might be an option but you will need a licensed contractor to work with you on the remodel. 

DP was almost 600K, from 1031x funds.The first was qualified with PITI, but the I/O was an option.