The underwriters will be looking at similar property condition requirements (c4 or higher) of a conventional loan (no deferred maintenance or safety hazards which would affect value).  

Great option for buyers financing with VA, FHA, conventional, DSCR, or cash of course (no seller financing).The listing will be available starting in mid-February and most likely won’t be on the market for long so shoot me a DM for additional details and I’ll be happy to chat!

I cant imagine where you'd find better than conventional unless you have a crazy friend with a lot of money.   

In this case, you can use Rental Income from the units that you will not be living in and that income can count to help you qualify.FHA rates are going to be lower than conventional for you almost always, but FHA does have a 1.75% funding fee. 

House hack a 2-4 unit with the lowest down payment loan you could find. 3.5% FHA or 5% conventional.

Just to clarify, I purchased this rental property with 100% financing—$209K from a conventional 75% LTV loan and $70K from my HELOC.

We're willing to live almost anywhere in the greater Sacramento area based on what we can afford, provided of course that the property is in a decent neighborhood that has a good chance of attracting responsible tenants.As for budget, I believe we could get a conventional loan for properties up to $600k, but my strong preference is to find a distressed property (or seller!)

You could also use a Fannie May Home style renovation loan which a conventional loan and require 5% down vs.

It will impact underwriting if you are doing conventional loans.

To maximize your investment, use financing options like FHA or conventional loans, analyze deals based on cash flow and cap rates, and network with local investors through REI meetups and BiggerPockets.Good luck!