You can easily find a turn-key property in the $250k range with cap rates around 6.

Assets identified in this study include:Appliances: Oven/range, dishwasher, refrigerator, washer/dryer, microwaveElectrical and communication systems: TV connections and dedicated equipment outletsCabinetry and CountertopsDecorative light fixtures: Sconces, pendant fixtures, chandeliersInterior Finishes: Crown molding, wood panel wall covering, window treatments8.20% of the total depreciable basis was classified as 15-year class life.

I also have a world class designer on my team that helps get these kind of properties from the average $60-$75k/yr range to over $100k/yr range (for 3bd homes; more the bigger you go).  

And when inventory got ultra low that did not work anymore and we shifted to move-in ready.If you are after cash flow, real estate is not what you want in 2024.

From cozy cabins to expansive luxury estates, there's a wide range of opportunities for investors here. 

- What are the best neighborhoods for buy & hold in this price range?

They are offering lease terms with a cap rate in the 12-14% range.

Start visiting building sites so you can meet the trades and see finishouts in different price ranges. 

Certain areas in Hayward and San Leandro could meet most of your criteria but they are in the $1M+ range.

I would be investing in Austin, TX, where this seems to be a growing trend with the current tight inventory of conventional housing and lots of surrounding land.