Gonna start by saying to just typed up a super detailed post explaining everything in my head, then I accidentally clicked the power button on this chromebook and deleted it all; so bare with me on the spark notes version of this.Closing in January on my first investment prop. 

I would advise you differently if you were looking for a conventional buy and hold deal vs. a BRRRR vs. a house hack for instance.

Too close and you may end up paying out of pocket in some instances if unexpected expenses arise

Well-defined criteria must have a firm count of the following factors:Unit countLocation (Neighborhood Grade)Year builtROIRehab Scope NeededOccupancyUnit MixFor instance, I have the following set parameters in my criteria and I never deviate from it (no matter what!)

Hi @Zeke SanchezMy advice to you is that the real estate market is headed into a major correction soon.

A heads up - before you send out your deposit accounting read the CA laws very carefully -  thankfully laws are changing to protect tenants from over charges from the security deposit - but this means there are very strict laws regarding this. 

We are anxious to continue to build our portfolio, but being new are having a hard time wrapping our heads around the financing aspect of real estate and how to obtain financing for future deals. 

At the end of the day, you need to do what works for you and in all instances, the numbers have to make sense. 

Generally you can only have 1 FHA loan at once, but there are instances where you can have two of them; this would fall in the exception category in my opinion. 

I would  head further south.