Any capable person can follow a map. 

Generally the biggest con or concern on rural (from dscr lender perspective) is the availability of the land to build competitive supply cheaply that can challenge the value of the subject property. 

Some start much higher than that.In our area it is simple supply and demand - there is a very large demand for our services, there is limited capacity to provide services. 

My thought is that if the IRS audits me, I'm perfectly capable of showing how "Joe Smith" paid my venmo $1K, I transferred it to my personal account, I also have a lease agreement identifying that $1K and Joe Smith's name.

You have several options, and the choice depends on your goals and financial capabilities.

Demand is too high and supply too low!

Get  a good property management company with rehab capabilities to get numbers that pencil out for success. 

Basically, I'm planning to self-manage until my portfolio grows beyond my capability to do so.

To note is that Berkeley has very low housing supplies and a strong rental market driven by UC Berkeley.

@Amber StoutIf they do not reduce the money supply they may need to increase rates vs decrease them as we are heading in this quarter where last year MoM inflation was very low so by end of June/July inflation being closer to 4 could be a possibility….