Or should I just not worry about that and go with whichever has the lower payment knowing my goals are to lower carrying costs and I'm going to pay off the principal when I sell.

As you're probably aware, AB 1482 caps annual rent increases at 5% + CPI or 10%, whichever is lower.

Many people start out active because they want exposure to real estate and don't know that you can start out passive - you can effectively hire the asset manager and supply capital to the investment.You can have great success as an active or a passive investor - but it is important to understand the difference and to select whichever option matches your skills and resources the best.Good luck!

Ive read a few things about onlying being able to cash out refinance 75% or the purchase +closing costs, whichever is lower.

It depends on the lender but at a min they must follow TX SML or lending laws in the state in order to compliantly lend in TX, on whether choose to apply this guideline to all types of occupancies or transaction types (non owner investment, second homes/primary residences, etc)80-85LTV on rental properties is only on the purchase for fannie/freddie loans but on rate term refinances its max 80% and cash out max 75% for 1 unit and up to 70% for 2-4 unit cash out conventional.On HELOC's and rentals are up to 70-75% depending on the HELOC investor or product.Its good to distinguish between what the lenders are willing to do and for which product and also these loan products must abide my state law as well as an additiona layer of "overlays," on top as well (whichever is worst / most conservative).

I have vacant properties that have been a struggle to upkeep while they are on the market either to be rented out or sold, whichever comes first.

Solo 401K, pull personal loan out at 50K or half the balance of the account, whichever is less.

Once you’ve got that down and want to keep growing, you can start looking at out-of-state investments if they align with your goals.Best of luck with whichever direction you decide to take!

Whichever is most beneficial for the state you're in. 

.- Maximum build size: typically 800 square feet or 50% of the size of the primary residence, whichever is smaller.