I've started browsing on Zillow and websites like that, I'm reading books like "What every real estate investor needs to know about cashflow", and listening to the bigger pockets podcasts. 

I'm not banking on appreciation but want a neighborhood where value will at least hold steady, with reasonable positive cash flow. 

@Eric Fernando You should start by looking at the county property appraiser website and check out the neighborhood and the zoning for that particular property.

The rising rents will make a cash neutral property positive in a couple of years or a cash flowing property more cash flowing.   4) Historically San Diego RE has always increased over any significant duration. 

I hear you about Appfolio--I have not signed up for the demo, I was turned off by their website that provides zero info (there is literally only one accessible page!) 

I also would like to get myself in a position in the next few years to be able to make cash offers and only use bank financing when I have to. 

Check with your county's website.

If the HOA can recoup 6 months assessments due to CO super lien status at a foreclosure auction, if there are leftover proceeds they would go the 1st position and 2nd position respectively.

- How can I️ maintain the most favorable position for a property loan in the future but continue to utilize equity ?

The 1st position mortgage probably has a better rate and a longer amortization schedule I would guess.