Quote from @Eric Huntermark: Additionally, as I'm thinking about conventional loan products as well.

Any areas in Sacramento that worked particularly well (or didn’t)?

I know a lot of investors have done very well in Peirce County but I just haven't learned or know enough about that market to make an investment there.Washington state properties are expensive and can be difficult to make breakeven let alone cash flow at this moment due to the combination of high prices and interest rates. 

You’ll want to make sure your cpa is well versed in short term rentals. 

I'm certainly cognizant of the risks of managing a property remotely (my wife and I did rent out our Chicagoland house for a couple years while living in STL).

In light of that did the developers wind up getting a pretty decent deal out of this after they took a big risk on a property with crazy restrictive zoning and no clear path forward prior to purchase?

Take advantage of LSU's resources as well.

I have been to the 3-day and it is a well run event, by professional persons. 

I’m actually looking into an ADU as well with him. 

Having realistic expectations was something I had to accept early on.Property managers are going to be key for your investing as well.