You would have to seek alternative financing for the 2nd property.  

IF, big if, the market is good for house flipping that would be my choice and I would get into it full time.

A chalk board that people can sign for no reason would also be cool..obviously these are just bandaids.. but unless you want to remodel, drop prices etc, its not a bad alternative.

For simplicity, I think a lot of people compare to alternative investments/markets, taking into account risk, amount of work involved, amount of money required, etc.

Low valued SFHs can cash flow, higher value homes can not.Purpose built properties, such as multi plex units are built and designed explicitly for the use as rentals and are priced accordingly (or should be).A personal home is not a investment, it is a life style choice that will ultimately cost more to the owner than it will ever be worth (except in certain areas like CA where no one understands the value of money). 

In practice, it's really not so much different from mezzanine debt.The preferred equity strategy is a great alternative to debt financing in cases like yours where you already own the property and don't really want to go through the process of refinancing.  

Title co (buyer's choice) takes their sweet time to answer questions, but sent us the castrated version of "ALTA Settlement Statement - Seller" (http://www.alta.org/trid/download.cfm?

Excellent job, BTW ... because you did so well on it, you now almost have too many choices, which is a very high quality problem to have :)

For long term B&H, this is the right choice. 

They are currently leaving the area in droves.For many Bay Area residents, Sacramento offers affordability and enough of a "big city feel" to make it an attractive alternative to the Bay Area.