Let's assume you've followed the rules, reinvested the income produced by those properties over the years, and you have substantial equity in several real estate holdings within your Solo 401k.

Have a 5 unit producing great ROI.

Is running with an FHA loan the best way to take a shot as a first "investment" cash flow producing property as a first time home buyer while seeking a 3/4 unit?

Also, what should I do to look for comps or similar cash flow producing multi-family units in that area?

The summary was that 30k properties generally couldn't produce rent high enough to sustain the cost of long term CapEx and maintenance.

The biggest challenge was to remember that the home was not a permanent residence, but an incoming producing property.

Do as  joe says and base it on a known price it already produces  

-Private Equity/ Venture Capital: Investing in PE is not for all as they are not simple to find and understand but for the sophisticated (and wealthy) investor you can get into some great PE funds that can produce some huge returns!

Even house hacking in LA is not going to produce cash flow. 

As for the next few years, my boyfriend and I would like to be financially free (i.e. no debt, income producing assets providing a more than comfortable lifestyle), most likely living in Southern California, with a cabin in the Rockies and another home in D.C., traveling half the year and living our absolute best lives!