Quote from @Jo Bradley: One way to do a no money down deal is to find home with a purchase price that is lower than the appraised value.

The return on cash would be a no-brainer.Problem:- The city (Oakland Zoning) wants my Phase 1 to be minimum of 5 units, which puts me over some thresholds where I need ADA in Phase 1, I'd need a unit on 1st floor, and hit with additional impact fees in phase 1.  

I know this is usually a no-go but I've got the time, commitment, and ability to learn. 

If you are able to get quartz counters and a slab backsplash for $2,000 that would be a no brainer.You can if your area has a 'pre-finished' slab yard that has pieces of slab with 2-3 edges prefinished.

The property is in a no flood zone so this insurance is not necessary. 

For example:Breakdown:Mileage:Home to Property A = $300 (allocated fully to Property A)Property A to Property B = $100 split by days (2 days at A, 3 days at B) → $40 to Property A and $60 to Property BProperty B to Home = $300 (allocated fully to Property B)Lodging:Two nights at Property A = $300 (fully allocated to Property A)No lodging cost for Property B (stayed with family)PropertyMileageLodgingTotalProperty A$300 + $40 = $340$300$640Property B$60 + $300 = $360$0$360Total$700$300$1,000

The OP should abide by an1482 and local rules and raise rents allowed per the rules or use one of the legal means to execute a no fault eviction (that I summarized in earlier post).  

If you're seeking a no-nonsense partner on the sourcing of properties side, please reach out!

Yeah, everyone would be jumping up n down about what a no brainer that is and plow every cent possible into it.    

I’ve also noticed more people lately looking to lease with the upfront intention to sublease, so I strongly recommend including a no-subleasing clause as well.