My advice: keep it in the bank right now and get more financial education. 

If the tenant comes back to collect five months later and I do not have it, I am financially responsible.

Or if you are married or have a partner, any final decision must be run by them.This advice might not sound very warm and fuzzy, but it will help you make necessary business decisions as they come up, and that will minimize emotional and/or financial harm to you.Hope this helps.

I am currently in property management and want to dip my toes into real estate investing and begin my journey towards financial freedom.

Everyone on this thread has made very valid educated points.I don't suggest this for a newbie living paycheck to paycheck; but if your in a financial position to bear the weight of some repairs and vacancy out of pocket, this may be a great long term play.Although we don't typically invest upon speculation, an educated person could make an assumption So Ca will continue to increasing in value over a long term period.

I work alot, and since I'm not getting any younger, I realized that I have to do something different to attain financial freedom. 

I'm at a turning point in my life right now where I have an opportunity to really set myself up for financial success long term. 

Assuming you can financially support hiccups along the way I think it’s a solid strategy.

They also include points.Do the financials even make sense on the multi unit with a 7%+ interest rate?

@Colby Mulry Depends on your overall financial situation if you'll need the additional protection a LLC provides.Search 'LLC' and pick from the hundreds of topics that exist on this issue to read.