Northern California, including the area around Monterrey Bay, is its own unique real estate environment that takes some getting used to if you hale from the upper Midwest (my wife is originally from Toledo). 

The ones with lower deposits in my examples are MF - 16 units (C) and 341 units (B), different locations and sizes but similar deposits.I understand why people may choose to live in "C" environment but my post was not about it.

You can also attend conferences to meet syndicators who are currently doing deals in this environment (a good one is the Deal Analysis Workshop happening in April https://thinkmultifamily.com/deal-analysis-workshop-2023/ ) ****This is not an affiliate link, but we've been to this event 2 times and loved it!

Given the current credit environment you would be wise to use a cash out refi of 70% for a non-owner occupied property.

Multi-generational wealth can be amazing to develop, but you really get kicked in the side of the head when you realize that it doesn't create the type of environment for your successors to really get a similar grasp.

"4-4-4" Morgan Stanley sees an environment in the future with 4% Fed rates, 4% inflation and 4% unemployment.....

Don’t forget to calculate in at least 6-12 months of vacancy, $10-$100k in build outs and hope that you’re right about market rents in this environment.

This downward trend in borrowing cost could signal that the worst of this negative real estate environment might be behind us.

You'll have to buy reasonably well, and manage professionally in order to continue to sustain great returns in real estate in today's environment.

I would recommend getting up to 5 or so with leverage in this rate environment before paying down.