Putting in 15k+ wouldn't work, I'd be negative on the front end.

I’m selling a home for $330K if I offer owner financing, I’d ask for $130K-$150K and then the remaining monthly amount until the mortgage is paid off.

Not sure I'd personally buy a property that has a radon issue, but I've worked on large MF deals that build and rent anyway.

@Noa Zell, here's the actual language defining MR1 zoning:https://codelibrary.amlegal.com/codes/los_angeles/latest/lap...I'd study this and see if any allowable use would generate more rental income than auto repair shops.

I'd reach out to those guys.

You're doing business in California, particularly San Fran, so I'd Lawyer Up!

Buy and Read this bookThe Book on Estimating Rehab Costs - J ScottIf you are interested in using the BRRRR strategy and haven't gone through the book already, I'd highly recommend listening to on Audible or reading the hardcopy of the book.

Bottom-line - I'd stick to newer buildings. 

Being this will be your first investment property and you're across the country I'd recommend trying to find a partner with a proven track record of investing in that area.

I'd recommend speaking with @Jeff Nash if you are looking for an advisor (and CPA) who is well versed in tax planning.