Advice on buying rental property in Sacramento

[Katherine Ming]

I am looking into buying rental property in Sacramento. I have been looking at condos in the 150-220 range. The math works out that the renter will cover the mortgage, interest, HOA, taxes and insurance. However, I won't be making enough to cover repairs and time when it is potentially vacant.

I live in San Francisco.  Here, there is never a problem renting.  I don't know sacramento well enough to know how competitive the rental market is.  I know there has been a roughly 8% increase in rent over the past year or so.  If I could raise rent at least 5%, it would work out for me.  But can I do that?  

I am also concerned about impending rent control.  If I lock in a rate low now, it feels like I will be losing money over the long haul if I get a tenants that stays.

Any advice on buying in Sacramento would be great.