1st time home buyer

[Andrew Collins]

Hi BP!

This is my first post, though I've been listening to the podcasts for a while now. A big thanks to Brandon and Josh for what they do!

I'm a recent (non real-estate) law school graduate taking the bar at the end of the month. In August, I'm moving to Sacramento for a new job and looking at investing there. I've figured out my financing (FHA supplemented by cash) and I'm looking to buy a SRF in the Sacramento and share it with a renter. I'm looking to purchase for 160k or less.

I've been having some difficulties finding a place with my agent and have a few questions:

1) I've been looking on the MLS and it seems that every decent property in my price range is snapped up immediately. I've also put in an offer on a property only to be been drastically outbid. Does anybody have experience successfully buying with non-cash in this price range in the Sacramento area?

2) I know I'm priced out of Down/midtown and East Sacramento. It also looks like a lot of North Sacramento is dangerous. Any ideas on neighborhoods that are reasonably safe in my price range? I have been looking at West Sacramento and some parts of Oak Park.

3) Does anybody in Sacramento have experience finding FHA properties in Sacramento using anything other than the MLS and Craigslist?

Thanks in advance for your advice!