@Nikhil MascarenhasDifferent people go different routes depending on their risk tolerance, their amount of equity and compared to other assets owned, how patient they are with a complicated set-up and high legal fees, whether they view the $800 as game-changing or just a cost of doing business, etc. 

I went one for one down the coverages comparing US Coastal and Proper and I did much better with US Coastal.  

You are trying to compare oranges and potatoes, this is not appropriate here.

I have had this occur with cabinets, flooring and other materials made from overseas that the product testing compared to the in field testing of the product were very different. 

Comparing the pros and cons of purchasing the 2 home types is not my aim here.In Scope: The change in the sales price of new construction homes from when they were first sold after construction to when they were sold subsequently versus the change in sales price for existing homes over the same period.

Lower priced markets in central valley have better rent/price but lower appreciation compared to bay area.   

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

The renovation of a home can set it apart from a competing comparable property.

You'll likely find that some areas don't cash flow based on their rent amount compared to price points.

Private lenders or bridge lenders may also be a good fit, as they tend to offer more creative solutions compared to traditional banks.