Thus, perhaps this is more of a positive than a negative.I see this as an opportunity to get access to capital because I suspect the housing market will be more favorable from a buyers perspective in 6 months or so.

I couldn’t get it done for less than 130K and that’s calling in all favors and me working on it as well.  

I'm with you on refinancing and using the VA again, both of those are actually in motion.

I’m inclined to do the first property without a LLC for more favorable lending terms (30 year loan vs 5-7 year loan with a LLC).

California is the only Escrow-driven state in the country, if you are dealing with Ca property then Escrow is neutral and doesn't favor either party, so you just want to pick the one who is the best at handling your transaction type (like me!)

While I do agree with @Greg Scott that California is not the easiest state to be a landlord, the investment results make it worthwhile even in places like San Francisco where a savvy investor can identify the value play opportunities.The fires from the past few years have made the rental market in Sonoma and Napa counties very favorable for landlords with higher rents as demand significantly outstripped supply.

I'm just outside of Charleston, let me know of there's something I can do to return the favor.

Claim expense deductions on the business and not on the personal tax return so that your personal income is used favorably towards your DTI.6.

We shopped around for a Hard Money Lender with favorable fees.

Odds are in your favor, as most talk a big game and rarely deliver, but some are actually dangerous.Best of luck!