We could have gone with a smaller structure around 500 sq feet with 1 bedroom & 1 bath but I wanted to maximize square footage and number of rooms & bathrooms. 

I want to maximize my returns any advice or mentorship is welcomed in either operating outside of California or @Dan Heuschele tips for success operating in CA.

So many questions, but the first one:* I wouldn't have to come up with too much of a down payment (less than 5% probably) If anyone out there reading this were presented with this type of offer, knowing what you know now..what would you do as far as maximizing the purchase to leverage into buying your next unit?  

Buy it at a yield you can accept vs a discount to UPB.

see example    https://mailchi.mp/trustdeedresale.com/31-ltv-1st-trust-deed-1200-yield-rented-large-excellent-condition-high-end-area-national-opportunity-633289?

We plan on moving out within the next five years so we do not want to refinance into a 20 or 15 year loan.We are thinking of doing a cash our REFI and holding the money (~90K) in either a CD or high yielding savings account until the market slows down a little to purchase a multi family investment property. 

I need to maximize my tax losses this year - how should I invest in real estate (or something else?)

There are ways to structure the LLC to maximize your ltv.

But I'm very happy with my yields and have been able to scale a lot quicker than I ever imagined when I first started.

I also like to send a bank statement showing my client has more then the cash for downpayment in the bank so sellers agent knows they are a strong buyer and just doing this credit to maximize their % return.